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Layoffs Watch '15: Deutsche Bank May Shed Some Russians

Apparently the potential money laundering by some is frowned upon.
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Another move under consideration would involve deep cuts to Deutsche Bank’s Russian trading and investment-banking business, the people familiar with the matter said. Concern about potential money-laundering by Russian clients, through equity trades handled by Deutsche Bank, has spurred an internal review and investigations by European and U.S. regulators, they said. Deutsche said in July that it was reviewing stock trades by “certain clients” done through the bank’s Moscow and London offices. The people said the trades in question were worth billions of dollars. [WSJ]

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Layoffs Watch '12: Asia

The bad news is that Goldman Sachs, Deutsche Bank, UBS, and others have been making cuts and are expected to continue to do so. The good news is that not everybody is upset about it. Speaking to bankers and other industry sources, Reuters was able to confirm at least 50 people were let go in the past three weeks, a cull that includes senior expatriates as well as junior bankers. The cuts mainly target the equities business, with more layoffs expected in coming weeks. CLSA , Deutsche Bank, Goldman Sachs, and UBS were among the banks and brokerages that cut jobs, the sources said...The Asia cuts also come at an unexpected time, when expatriate finance professionals are preparing to hunker down for the summer while their families head home for the holiday. "I'm disappointed, but in some ways I'm glad I was cut early in this round, because everyone is looking over their shoulder," said Cassandra Lister, who was recently let go as a managing director at Societe Generale in Hong Kong. "They're looking around and wondering 'Am I next?' It's a horrible work environment." Asia's Investment Banks Launch Round Of Job Cuts [Reuters]