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BusinessFinancial Markets

Deutsche Cuts, Judge Orders C Suisse Exec's Arrest

posted: 8 months ago

Deutsche Bank - Foyer

Deutsche Bank laid off around a third of the staff in its Asia equity derivatives business on Tuesday, as part of a global cost savings plan announced on July 31, according to Reuters' sources.

The news agency reports that just over 20 people remain in the division, down from a number in the mid 30s, according to one source.

Deutsche announced in July that it will eliminate 1,900 jobs by the end of the year, including 1,500 at the investment bank and support areas, as part of an effort to save $3.68bn.

In the meantime, Bloomberg reports that an Argentine judge has ordered the international arrest of Credit Suisse executive David Mulford for failing to testify in a probe on the events leading to the country’s 2001 debt default, state-run news agency Telam said.

Federal Judge Marcelo Martinez de Giorgi has requested that Interpol assist in locating and requesting the extradition of Mulford in connection to the probe, Telam reported, citing judicial sources it didn’t identify.

Deutsche Bank cuts a third of jobs in Asia equity derivatives - sources

Argentine Orders Arrest of Credit Suisse’s Mulford, Telam Says

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