DEUTSCHE BANK CUTTING THE SLACK – Deutsche Bank is still trying to cut their costs, for this reason they are planning to clear out the underperformers. Mark Fedorcik, Head of US Corporate Finance, who was promoted to Co-President of the Corporate and Investment bank, said that Deutsche was “doing a much better job on a systematic basis looking at the underperformers”. The bank has already made big cuts in the US, including the closure of the Houston office. Deutsche has also made a promise to shrink its markets business, such as Equities, Interest rate trading and prime broking. Someone familiar with the matter of the restructuring said that layoffs are taking place across Deutsche’s markets businesses, lay-offs of poor performers in good units and also good performers in bad units. Total cuts across the US could be as much as 10%, the bank had around 10,300 employees and have already cut 400. #SpartanInternational