Deutsche Bank Tells Fixed Income Traders They'll Keep Jobs
- Fixed income head Ram Nayak makes assurances in staff call
- Debt trading has been traditional strength of investment bank
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Deutsche Bank AG fixed-income head Ram Nayak assured staff they will keep their jobs at his business even as the lender cuts 18,000 positions in a sweeping overhaul, according to people familiar with the matter.
The bank’s move to “resize” debt trading operations won’t lead to dismissals, Nayak told colleagues on a conference call on Monday, the people said, asking not to be identified as the matter isn’t public. A day earlier, Deutsche Bank had announced plans to exit equity sales and trading as part of a far-reaching overhaul.