Reuters - Top firm said begun making selective investment banking job cuts

The cuts are said to not be focused on any particular business.

Reuters reports that Deutsche Bank has begun making selective cuts to its banking and markets businesses in its UK-based investment bank, according to multiples sources, just a week after results showed staff numbers rose last year while revenue had fallen.

The sources said reductions were slightly deeper than the usual cuts made by investment banks at this time of year and are not focused on any particular business.

Deutsche Bank's number of staff rose in 2017, despite pledges by CEO John Cryan to wield the axe. CIB had 41,349 staff at the end of December, or 1,700 more than a year earlier. Some 17,251 of them were front-office staff, up 122 during the year.

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Deutsche Bank to cut IB jobs

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