Deutsche said considering closing investment banking unit

Not good news for some.

The Financial Times reports that Deutsche Bank is considering closing its Russian investment banking activities in response to an investigation into potential money-laundering for Moscow clients.

John Cryan, the new co-CEO of Germany’s biggest bank, is expected to make deep cuts in its Russian operations, which are among the largest of any foreign bank, said people familiar with the matter.

Deutsche is being investigated by UK, US and German regulators over whether its Russian equities operation breached anti money-laundering laws in the country.

The likely pullback from Russia — first reported by WirtschaftsWoche — could involve about 200 job losses. It would mean Deutsche exiting the onshore investment banking market in Russia and only serving clients there from other countries.

Hit the link below to access the complete Financial Times article:

Deutsche Bank eyes Russian pullback amid money-laundering probe

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