In an attempt to reduce expenses, Deutsche Bank DB has laid off 111 senior managers, in particular, directors and managing directors from its retail and wealth management unit. These changes align with the bank’s strategy of trimming higher-paid roles to reduce expenses.

Deutsche Bank has fire 111 senior managers from its retail and private wealth unit as the bank brings in cost cuts to meet 2025 targets. The bank is aiming to reduce its cost-to-income ratio from 80% to between 60 and 65% next year,

Frankfurt-headquartered lender has imposed demanding targets on underperforming unit.

Deutsche Bank is reported to be planning to remove more than 100 posts among its senior private wealth and retail bankers in a continuing programme aimed at driving down costs at the German bank.View

Deutsche Bank (NYSE:DB) has fired 111 senior managers in its retail and private wealth business as the unit launches cost reductions to meet its 2025, the Financial Times reported. According to the report,