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Deutsche Bank has introduced a hiring freeze as it seeks to cut costs amid a deep strategic overhaul, according to a Reuters report today.
The German lender reportedly sent a memo to managers on the hiring freeze, which does not include the bank’s compliance department.
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Deutsche Bank’s management is working frantically on restoring investor confidence by speeding up a series of cost-cutting measures following a US Department of Justice (DoJ) demand to pay up to $14 billion for the misselling of mortgage securities before the financial ... (read more)