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Deutsche Bank Moves Fixed-Income Trading Business Back to Brazil

  • New president’s economic proposals prompt a strategy rethink
  • As many as 30 back- and middle-office workers shift to Florida
Maite Leite.

Maite Leite.

Photographer: Rodrigo Capote/Bloomberg 

Deutsche Bank AG, the German lender that cut investment-banking jobs in Brazil last year, is moving businesses back to the nation on a bullish view of the new government’s economic agenda.

After cutting costs in the Latin American nation 40 percent last year, Deutsche Bank is moving its fixed-income and currencies trading businesses to Sao Paulo from New York City, Maite Leite, the Frankfurt-based company’s chief country officer for Brazil, said in an interview. Two investment bankers will relocate there from New York to cover clients, and a director will be hired as local head of multinationals for global transaction banking, Leite said.