Deutsche Bank set to make job cuts on City trading floors
Deutsche Bank is set to make hundreds of job cuts as part of a dramatic 'overhaul' of its investment bank.
The changes, which were reportedly approved by the German lender's supervisory board late on Friday, are likely to be made as soon as Monday.
According to sources cited by the Sunday Times, the bank will target "capital intensive" parts of the investment bank.
The insiders also apparently revealed that the company is planning to exit a number of small overseas markets.
The reports come after Deutsche Bank was last week slapped with a £1.7bn fine for its part in the Libor rate-rigging scandal.