Now Deutsche Bank is cutting jobs Hong Kong

Posted by PSR_AXP 42 days ago
Deutsche Bank is said to be the latest bank to cut jobs in Hong Kong following a slump in equity capital markets (ECM) activity.
Two sources said the bank has trimmed headcount in Hong Kong. It follows Credit Suisse as one of the first western banks to do so. It also follows small cuts at Deutsche Bank in New York. Deutsche Bank declined to comment.
The cuts follow hiring in 2021. Deutsche bolstered its ECM business last year after cutting back drastically in 2019 when it rebooted its strategy and closed its flow equities trading business. Hong Kong-based Chinese banks including Haitong International, Guotai Junan International, and China Merchant Securities International have also cut jobs in corporate finance in recent weeks after record levels of recruitment over the previous 18 months. 

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