Deutsche Bank hiring in Florida despite retrenchment around the world

Deutsche Bank, the bank that’s retrenching from operations around the world, plans to hire several hundred workers for its operations in Florida.

Bloomberg News reports that the lender plans to add 350 additional staff in Jacksonville by the end of next year and leased a second building, according to a August 9 statement from Florida Governor Rick Scott.

Deutsche Bank employs about 1,800 workers there, including traders, bankers and wealth managers along with employees for information technology and compliance, the company said.

The growth in Florida, from fewer than 100 employees in 2008, stands in contrast to the cost-cutting measures that Deutsche Bank CEO John Cryan is pushing through Europe’s biggest investment bank as he seeks to restore investors’ confidence and meet tougher capital rules. The CEO plans to eliminate 9,000 jobs, or about 9% of the bank’s total, including about 4,000 in Germany as part of an overhaul announced in October.

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

Deutsche Bank Is Adding More Staff to Offices Near Florida Beach

UBS: China's Already Started Bailing Out its Banks

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News