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.

 

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.

 

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