Deutsche May Outsource IT

In an interview with Reuters last week, Deutsche Bank Chief Operating Officer Hermann-Josef Lamberti said that 'we are now issuing an official tender offer for the outsourcing and expect a decision by the fourth quarter.'

Accenture, Electronic Data Systems and IBM are all thought to be contenders for the contract.

Lamberti confirmed that around 1,000 Deutsche employees were likely to be effected by the move, although job losses are unlikely.

It remains unclear whether the bank will eventually agree to a full outsourcing deal or a joint venture arrangement.