Deutsche said to lose 26 junior bankers

Deutsche Bank - External

Deutsche Bank lost about 26 junior bankers in Hong Kong over the past four months, the biggest number of such departures from the firm in Asia in at least five years, two people with knowledge of the matter said.

Bloomberg News reports that the employees, including four directors and four vice presidents, began leaving voluntarily in late February after receiving their bonuses, the people said, asking not to be named because the matter is private.

The departures came as Deutsche Bank added nine managing directors over the past 12 months in Asia, said Michael West, a Hong Kong-based spokesman.

'The total number of bankers in our Asia-Pacific business will not vary significantly if at all year on year', said West, declining to comment on the number of staff who left. The 'turnover in banking was well within the single-digit percentage range'.

About four junior bankers were also dismissed, taking those who left, including associates and analysts, to 30, one of the people said.

To access the complete Bloomberg News article hit the link below:

Deutsche Bank Said to Lose 26 Junior Bankers in Asia this Year

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