Deutsche Bank losing traders over culture clampdown

|About: Deutsche Bank AG (DB)|By:, SA News Editor

Deutsche Bank (NYSE:DB) is losing some of its strongest traders amid a clampdown on bad behavior, co-head of investment banking Colin Fan says.

DB no longer rewards the best earners with a promotion or the highest bonuses if they aren't seen as team players, which is adding to the outflow of senior talent.

“Some people are purely financially driven and they’re going to less regulated spaces, maybe it’s tech, maybe it’s hedge funds; we wish them well. These are people that probably won’t fit into the new banking environment anyway.”

“I think the entire industry is being very deliberate” on culture changes. “We all firmly believe you cannot seriously be operating under the old culture.”