Investment Banks Said To Cut Senior Staff by 12% in 2012

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The 10 largest investment banks including Barclays, Goldman Sachs and Deutsche Bank reduced the number of front-office jobs by 12% in 2012, according to analytics firm Coalition.

The banking and trading positions, which excludes administration staff, declined to 54,448 in 2012 from 61,559 in 2011 with the deepest cuts in Asia-Pacific and Europe, London-based Coalition said in a statement.

'Despite having fewer front office producers than the Americas, Europe, Middle East and Africa cut significantly harder for the second year in a row', Coalition said in the statement. A 'significant acceleration' also occurred in the Asia-Pacific region, it said.

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Investment Banks Cut Senior Staff by 12% in 2012, Coalition Says

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