Bolstering regulatory oversight in the wake of escalating fines.
Bloomberg News reports that the hires at the bank are to be made by the end of the year, said Jacques Brand, chief executive officer of Deutsche Bank North America in a phone interview. The bank will also continue 'strengthening control functions as we aim to deliver the franchise more efficiently', he said.
Banks around the world are under pressure to beef up their regulatory compliance and are accelerating staff hires in those divisions following probes by U.K. and other global regulators into the manipulation of benchmark interest rates, the alleged rigging in currency markets and money laundering.
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