Deutsche Bank Said to Pare U.S. Commodities as Silbert Exits
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Deutsche Bank AG, Europe’s biggest lender by assets, is dismissing power and gas traders in the U.S. as commodities chief David Silbert prepares to leave, said a person briefed on the matter.
The firings affect fewer than half the U.S. power and gas traders working for the Frankfurt-based bank, and are part of the 1,900 job cuts announced by Chief Executive Officer Anshu Jain in July, according to the person, who asked for anonymity because the moves haven’t been publicly announced.