The German bank Deutsche Bank announced today that Berlin is now becoming one of the few technology centers of the credit institution in the world and sources said that many employees who worked in the offices maintained by the bank in Russia have moved to Germany.
Prior to the war, Deutsche Bank’s technology centers in Moscow and St. Petersburg employed about 1,500 employees, accounting for about 10% of the world’s workforce. Everyone after February 24 was offered a job in Berlin and half, according to the Financial Times, accepted the offer. The majority of them have already moved to Berlin, about 2,000 people with their family members.
Deutsche Bank, Germany’s largest bank, is closing its operations in Russia, joining a list of Western companies leaving Russia after Moscow’s invasion of Ukraine.
Two people familiar with the matter said that the staff had already left Russia and settled in the new center of Berlin, and that “hundreds” of employees had relocated, without giving an exact number.
“Increasing our presence in Berlin will attract talent,” said Byrd Loikert, a board member who oversees the technology.
The bank’s Berlin hub, which has attracted a growing number of technology start-ups and international companies, will support Deutsche Bank’s investment and corporate banking divisions.
In addition to its hubs in Russia, Deutsche Bank has technology centers in India, Romania and the United States.
SOURCE: ΑΠΕ-ΜΠΕ
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
