THE END OF THE FOURTH REICH: Is Deutsche Bank DEAD?
Deutsche Bank is CUTTING 18,000 JOBS and exiting S&T. Is Deutsche Bank going to be the next BEAR STEARNS? Will they go belly up like a harpooned PLUS SIZE MODEL?
Deutsche Bank is CUTTING 18,000 JOBS and exiting S&T. Is Deutsche Bank going to be the next BEAR STEARNS? Will they go belly up like a harpooned PLUS SIZE MODEL?
Career Resources
Nothing that can't be fixed with some FLEX SEAL.
what will happen to incoming analysts? Will they be fired asap or do you think they'll be placed into new groups?
Depends on the group. Equity S&T assets (and people) are likely to be sold off, not disappear. From there people will probably be offered severance based on seniority (cost), and any top performers will be kept on as part of the buyer's firm. Make no mistake, there will be layoffs post-transaction just based on synergies.
M&A analysts probably won't be affected much. DB still plans to do advisory and underwriting work for clients, however they may get fewer assignments since DB won't be able to provide all the services (market making) other banks can.
What about FIC, IB, or other groups in S&T and IB? I know DB said they will pull out of derivatives and equities, but what do you think will happen to other groups?
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If DB becomes the next Bear Stearns and gets acquired by JPMorgan, I can think of worse outcomes for the employees there right now...
Of all my friends who were at DB at the beginning of the year, roughly 1/3rd have since jumped ship.
Not going to be the next bear stearns because DB's problems are well known, and the liabilities are bounded. At this point clients will feel confident that DB is genuinely committed to the businesses it is retaining, and the uncertainty that clouded the others is gone. Probably a huge distraction eliminated for the people lucky enough to keep their jobs.
No
I think UBS is next man
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