Deutsche Bank to hire 500 middle office / IT staff

Dog Detective

Bolstering regulatory oversight in the wake of escalating fines.

Deutsche Bank plans to hire about 500 employees in compliance, risk and technology in the U.S. as global securities firms bolster their 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.

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

Deutsche Bank to Hire 500 Workers in U.S. for Compliance, Risk

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