Deutsche Bank, as well as other investment banks, are in treacherous waters.
They confront waves of new regulations, choppy economy, stormy business outlook, political uncertainty, light investment banking on the horizon, and retail investors have jumped overboard (how is that for bad cliches?).
According to Dealbreaker, Deutsche Bank is eliminating about 85 jobs at its Japan and Hong Kong equities units as Europe’s widening debt crisis curbs economic growth in Asia. The bank cut about 15 positions in Tokyo yesterday, and plans to tell 30 employees in equity research, sales and trading today that they will be dismissed, three people with knowledge of the matter said. The Frankfurt-based company trimmed 40 jobs in Hong Kong yesterday, according to another person, who asked not to be identified because the information is private.