Deustche Bank is out with a report today encouraging I-bankers to gird their loins.
Deutsche Bank analysts have just released a massive report full of predictions for investment banks in 2014...Deutsche is predicting another 20,000 investment banking redundancies next year, of which it says 6,000 will be in the front office.
[eFinancial via Lauren LaCapra]
Kidding about it not being a lot more than that.
The Germans are considering sending some bankers to live on a farm upstate, where there's plenty of fresh air and room to run around. Europe’s biggest bank by assets, is considering cutting about 1,000 positions at its investment bank as revenue declines, according to a person with knowledge of the matter. The cuts will be mostly outside Germany, where the firm’s investment banking operations are focused, said the person, who asked not be identified as Deutsche Bank’s plan hasn’t been made public. [Bloomberg]
Or continue sucking, as it were.