Deutsche Bank job cuts are tip of the iceberg for finance industry

A number of banks are doomed to fail if they don't adapt to the new realities of the finance industry.

By Arturo Bris

Deutsche Bank caused a recent stir with the seemingly sudden announcement that it would cut 18,000 jobs – one fifth of its global staff. It is part of a reorganisation designed to return the bank to its core business of corporate banking, private banking and asset management. Most of the job losses will be in the global equity traders and investment banking division Deutsche Bank stated in an announcement made on July 7.