Deutsche legal advisers face uncertainty as bank retrenches
Embroiled in regulatory investigations, the bank has set aside €1.2bn for litigation costs, is cutting 9,000 jobs and leaving 10 countries as it seeks to reduce the risks to which it is exposed.
On top of the 9,000 job losses, the bank is to cut the number of consultants which advise it by 6,000. New co-chief executive John Cryan said he wants the bank to operate in a ‘more disciplined and focused way’ in future. Deutsche is to stop operating in Argentina, Chile, Peru, Mexico, Uruguary, Denmark, Finland, Norway, Malta and New Zealand.
Legal advisers
Numerous law firms have appeared on the bank’s panel in recent years, including Hogan Lovells, Simmons & Simmons, CMS Cameron McKenna, Ashurst, Slaughter and May, Clifford Chance, Linklaters, Allen & Overy, Freshfields Bruckhaus Deringer and White & Case.
Source: GlobalLegalPost – Deutsche legal advisers face uncertainty as bank retrenches
