Deutsche Bank could cut up to 20,000 jobs

[Sid Bishop]

This has been brewing for a while now and PLEASE do not try to blame BREXIT for this happening !!

https://www.bbc.co.uk/news/business-48898234

Up to 20,000 jobs could be axed at Deutsche Bank in a radical reorganisation of Germany's biggest bank.
Part of this bad news for this major German bank shown below.

''The investment bank is expected to be particularly hard hit, with many of the cuts set to affect London and New York.''
''As well as poor financial performance, Deutsche Bank has also been caught up in banking scandals.
Late last year prosecutors raided its headquarters in a money-laundering investigation.
They were looking into whether Deutsche Bank staff helped clients set up offshore accounts to transfer money from criminal activities.
Deutsche has also been connected with another huge money-laundering scandal at Denmark's Danske Bank.
Last year Danske Bank said that it had detected billions of dollars of suspicious payments at its Estonian operation.''

[Sid Bishop]

DW News
Published on Jun 20, 2019
Deutsche Bank is reportedly being investigated for alleged violations of anti-money laundering regulations. According to a New York Times report, a probe is underway as to how the bank handled transactions labelled 'suspicious' by employees. They include some transactions linked to Donald Trump's key adviser and son-in-law, Jared Kushner. A former Deutsche Bank employee told the newspaper that the bank failed to file a report with US Treasury, even though the employee had flagged some questionable activity surrounding Kushner's company account in 2016.

[Thor]

A friend of mine works for them and he showed me an email the ceo sent out to all staff concerning the position the bank was in and it’s not good. They have a lot of problems and I’m surprised it’s taken so long for this to come out.

How many banks are going to be done for money laundering? It’s a farce.

[Still's Carenae]

They have been struggling for a number of years. So far they have only used minor cosmetic changes. This needed to be sorted out when the problems first appeared, now they have to make major changes just to keep afloat.

[Still's Carenae]

A friend of mine works for them and he showed me an email the ceo sent out to all staff concerning the position the bank was in and it’s not good. They have a lot of problems and I’m surprised it’s taken so long for this to come out.

How many banks are going to be done for money laundering? It’s a farce.

Thor, I have been aware that there has been problems for at least 2 years. The media as they have done with Neil Woodford only reported when the crises point is reached.

[CreamofSumYungGai]

A friend of mine works for them and he showed me an email the ceo sent out to all staff concerning the position the bank was in and it’s not good. They have a lot of problems and I’m surprised it’s taken so long for this to come out.

How many banks are going to be done for money laundering? It’s a farce.

Cool story, Tho.

[Long slender neck]

Is this the bank that had to payout to Voldemort?

[Lucky7]

What’s Carol Voldemort got to do with this?

[Disoriented]

This has been brewing for a while now and PLEASE do not try to blame BREXIT for this happening !!

https://www.bbc.co.uk/news/business-48898234

Up to 20,000 jobs could be axed at Deutsche Bank in a radical reorganisation of Germany's biggest bank.
Part of this bad news for this major German bank shown below.

''The investment bank is expected to be particularly hard hit, with many of the cuts set to affect London and New York.''
''As well as poor financial performance, Deutsche Bank has also been caught up in banking scandals.
Late last year prosecutors raided its headquarters in a money-laundering investigation.
They were looking into whether Deutsche Bank staff helped clients set up offshore accounts to transfer money from criminal activities.
Deutsche has also been connected with another huge money-laundering scandal at Denmark's Danske Bank.
Last year Danske Bank said that it had detected billions of dollars of suspicious payments at its Estonian operation.''

All to do with Brexit - pull your head out of the sand fella.

[Disoriented]

What’s Carol Voldemort got to do with this?

A lot - Deutsche Bank were clearly on a Countdown.

[slacker]

First a declaration of interest: I worked for DBAG twenty years ago and they pay me a nice pension.

Their problems go back to the 90s, when they decided they had global player ambitions and ramped up the investment banking arm far too quickly through acquisitions, and overpaid the “stars” they nabbed from competitors . Trying to compete with the likes of Goldman Sachs and JPMorgan, without the complete focus or ruthlessness/nimbleness of those organisations, was always likely to end in failure. They struggle to get domestic retail market share (and hence the cheap funding from deposits) because the market is fragmented and regulates to favour the regional savings banks (Sparkasse), and only rarely have they bought overseas retail banks that were any good. They sold off many “fusty” transaction banking divisions that are boring but provide steady income, internal cross selling opportunities and chunky commercial deposits, including fund management units, and bought a load of duds like Bankers Trust without fully understanding what they did.

As it happens, they got off relatively lightly with the 07/08 crash because they spotted the underlying problems brewing in the US with mortgage related bundled derivatives, but were too slow to invest in newer streamlined technology and bin their creaky inhouse mainframe systems. They gave their trading and investment banking heads too much rope on business where they didn’t fully grasp the risks because they assumed the good times wouldn’t be subject the wild fluctuations, and were too keen on the developing markets like Russia where the money laundering problems stem from. Their senior management structure is still too unwieldly and bureaucratic, and can’t agree on the best way forward. They need to scale back drastically and start again, which I guess they are now, finally, doing.

[RedDwarf 1881]

This has been brewing for a while now and PLEASE do not try to blame BREXIT for this happening !!

https://www.bbc.co.uk/news/business-48898234

Up to 20,000 jobs could be axed at Deutsche Bank in a radical reorganisation of Germany's biggest bank.
Part of this bad news for this major German bank shown below.

''The investment bank is expected to be particularly hard hit, with many of the cuts set to affect London and New York.''
''As well as poor financial performance, Deutsche Bank has also been caught up in banking scandals.
Late last year prosecutors raided its headquarters in a money-laundering investigation.
They were looking into whether Deutsche Bank staff helped clients set up offshore accounts to transfer money from criminal activities.
Deutsche has also been connected with another huge money-laundering scandal at Denmark's Danske Bank.
Last year Danske Bank said that it had detected billions of dollars of suspicious payments at its Estonian operation.''

All to do with Brexit - pull your head out of the sand fella.

What total rubbish .

[Thor]

Like slacker said above.

Brexit is nothing to do with this, its poor management of the business over a sustained period of time. See Slackers post above.

[RientO]

Amazing that Germany has such good industry but their banking sector is a total car crash. Commerzbank has had lots of troubles in recent years as well.

[tuffers#1]

Deutsche are biggest creditors for 1 Donald Trump



US$ 360 million in 2016

[Disoriented]

This has been brewing for a while now and PLEASE do not try to blame BREXIT for this happening !!

https://www.bbc.co.uk/news/business-48898234

Up to 20,000 jobs could be axed at Deutsche Bank in a radical reorganisation of Germany's biggest bank.
Part of this bad news for this major German bank shown below.

''The investment bank is expected to be particularly hard hit, with many of the cuts set to affect London and New York.''
''As well as poor financial performance, Deutsche Bank has also been caught up in banking scandals.
Late last year prosecutors raided its headquarters in a money-laundering investigation.
They were looking into whether Deutsche Bank staff helped clients set up offshore accounts to transfer money from criminal activities.
Deutsche has also been connected with another huge money-laundering scandal at Denmark's Danske Bank.
Last year Danske Bank said that it had detected billions of dollars of suspicious payments at its Estonian operation.''

All to do with Brexit - pull your head out of the sand fella.

What total rubbish .

Really? Funny timing fella.

[Beradogs]

Investment banking business has been dying on its arse for years. Commissions cut to basically zero and more and more regulation. Mifid 1 and Mifid 2. They pay analysts hundreds of thousands of pounds to write research that is basically worthless in anything but a bull market (85% of the recommendations are buy side) and hedge funds and long only funds now hire their own analysts anyway as the have direct market access so no need to pay a broker. Only niche players ( like me) survive.

[Disoriented]

Investment banking business has been dying on its arse for years. Commissions cut to basically zero and more and more regulation. Mifid 1 and Mifid 2. They pay analysts hundreds of thousands of pounds to write research that is basically worthless in anything but a bull market (85% of the recommendations are buy side) and hedge funds and long only funds now hire their own analysts anyway as the have direct market access so no need to pay a broker. Only niche players ( like me) survive.

Any investment tips?

[Beradogs]

I only do indices and currency pairs. Buy usdcnh. (Usd against Chinese yuan)

[Disoriented]

[quote=Beradogs post_id=26940 time=1562519603 user_id=292]
I only do indices and currency pairs. Buy usdcnh. (Usd against Chinese yuan)
[/quote)

Yuan the next fella.

[Max B Gold]

Investment banking business has been dying on its arse for years. Commissions cut to basically zero and more and more regulation. Mifid 1 and Mifid 2. They pay analysts hundreds of thousands of pounds to write research that is basically worthless in anything but a bull market (85% of the recommendations are buy side) and hedge funds and long only funds now hire their own analysts anyway as the have direct market access so no need to pay a broker. Only niche players ( like me) survive.

Any investment tips?

Buy low. Sell high.

[Disoriented]

Investment banking business has been dying on its arse for years. Commissions cut to basically zero and more and more regulation. Mifid 1 and Mifid 2. They pay analysts hundreds of thousands of pounds to write research that is basically worthless in anything but a bull market (85% of the recommendations are buy side) and hedge funds and long only funds now hire their own analysts anyway as the have direct market access so no need to pay a broker. Only niche players ( like me) survive.

Any investment tips?

Buy low. Sell high.

Is that how Thor made his millions?

[Thor]

Investment banking business has been dying on its arse for years. Commissions cut to basically zero and more and more regulation. Mifid 1 and Mifid 2. They pay analysts hundreds of thousands of pounds to write research that is basically worthless in anything but a bull market (85% of the recommendations are buy side) and hedge funds and long only funds now hire their own analysts anyway as the have direct market access so no need to pay a broker. Only niche players ( like me) survive.

Good on you bear dogs. Keep going and good luck in what you do.

[Southcoastsoftee]

Cmon people surely we can all agree on one thing. That every f#%¥ing problem is caused by the people of this country voting for brexit...

[Disoriented]

Cmon people surely we can all agree on one thing. That every f#%¥ing problem is caused by the people of this country voting for brexit...

Sounds like a plan.