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Deutsche Bank Joins Wall Street Exodus for View of Central Park

  • Major banks have fled the area around New York Stock Exchange
  • Firm calls move an investment in its long-term U.S. presence
Bloomberg business news

Deutsche Bank Said to Cut Around 20% of U.S. Staff

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Deutsche Bank AG is literally leaving Wall Street, moving its New York headquarters to midtown Manhattan as the German investment bank embarks on a broad shakeup of its U.S. operations.

The company will lease 1.1 million square feet of office space at Columbus Circle, slashing its footprint in the city by 30 percent, the head of Deutsche Bank’s Americas business, Tom Patrick, wrote in a memo to staff on Friday. The firm, which has been leasing offices at 60 Wall Street, will begin the move in the third quarter of 2021.