Investment Banking Jobs Jacksonville Fl – The Frankfurt, Germany-based bank announced on Sunday that it will cut 18,000 full-time employees by 2022, reducing the bank’s global workforce to about 74,000.
The bank’s Jacksonville operations were not mentioned in Sunday’s announcement, but Bloomberg reports that the lender plans to notify U.S. employees of the cuts on Monday.
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Investment Banking Jobs Jacksonville Fl
According to WJCT partner The Jacksonville Daily Record, Deutsche Bank in Jacksonville employed about 2,100 employees as of September 2017, making it Deutsche Bank’s second largest presence in the United States outside of New York. According to Bomberg, at the end of 2018, the bank employed 9,253 people in the United States.
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Deutsche Bank said it would “significantly reduce the size of its investment bank and aim to cut total costs by a quarter by 2022” to “become more profitable, improve shareholder returns and drive long-term growth.”
The bank also announced that the management structure will change on August 1. The bank’s supervisory board has appointed three senior group directors who will join the management after approval by the supervisory authorities.
WJCT contacted Deutsche Bank to ask how the announcement will affect Jacksonville employees and operations. This story will be updated with any response.
Bill joined WJCT in September 2017 from The Florida Times-Union, where he held various multimedia journalism positions. A career in investment banking does not mean sacrificing quality of life. And living in Jacksonville doesn’t mean sacrificing your career. With deep industry knowledge from Wall Street veterans, Harborview offers world-class career opportunities in a dynamic city.
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