Not good news for some.
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.
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