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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Deutsche Bank Closes U.S. Swaps-Clearing Business
Deutsche Bank has shut down its U.S. swaps-clearing business, effective immediately. The move, effective immediately, is part of the company’s broad restructuring aimed at simplifying operations and pulling back from some that are too costly under stiffer capital rules. Deutsche Bank had slid to 13th place among banks in that clearing business.
This is also part of CEO John Cryan's plan to eliminate 9,000 jobs across the company to raise profitability and capital levels eroded by fines and other legal costs - including last week's announcement to reduce headcount in the fixed-income division by as much as 6%, and by as much as 17% in equities.
Related Stories: Terminations/Cost Cutting
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Deutsche Bank Plans to Cut Up to 20,000 Jobs Globally
June 28, 2019 -
A BNY Mellon Internal Struggle Pits DB Vets v. BNY Vets
June 6, 2019 -
‘Dreaded Bloodbath’ Has Begun at Goldman Sachs
March 14, 2019