- The decision to exit dedicated energy, agriculture, dry bulk, and base metals trading as well as transfer its financial derivatives and precious metals desks to the fixed income and currencies division will have "no material impact" on earnings, says Deutsche Bank (DB -1.1%).
- The moves mean about 200 Deutsche employees will be out of work unless the bank can sell the businesses they work for, says a source. Deutsche's investment banking and trading unit employed more than 25K at the end of Q2.
- “The decision to refocus our commodities business is based on our identification of more attractive ways to deploy our capital and balance sheet resources,” says Colin Fan, co-head of Deutsche's investment banking and trading unit.
Deutsche Bank sets cuts in commodities unit
Dec 5 2013, 12:56 ET