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Deutsche Bank to add 140 staff in India

Deutsche Bank AG plans to hire 120 staff for retail banking and 19 relationship managers for its wealth management operations in India, Bloomberg News reported Aug. 27, citing a spokesman for the bank and Amit Bhatia, head of private and commercial clients for the bank in India.

The move came after the German lender injected €470 million into its Indian operations, which currently has about 1,800 employees in businesses including retail and wholesale banking, investment-banking advisory and wealth-management services. Its retail bank operates 17 outlets in India.

The hiring plan came as Deutsche Bank has been pursuing a restructuring that involves cutting 18,000 jobs and slashing costs by a quarter. As part of the cost-cutting efforts, the lender let go more than 20 staff in India earlier in 2019.