Overview: Deutsche Bank is a leading financial services firm in Germany and Europe, based in Frankfurt. Its operations in the U.S., headquartered in New York, are primarily in the securities industry rather than in commercial and retail banking. While Deutsche Bank has operated in the U.S. since 1872, it has become particularly focused on investment banking since the 1990s, the result of acquiring Morgan Grenfell in 1995 and Bankers Trust in 1999. Bankers Trust, in turn, had acquired Alex. Brown in 1997.
Job Openings: See this list of current job openings.
Size: Deutsche Bank reports these figures as of September 30, 2008:
- Worldwide Employees = 81,000
- U.S. Employees = 13,000 (as of 12/07)
- Presence in 75 Countries
Positives: Net income through the first nine months of 2008 is positive. Deutsche Bank appears committed to the U.S. market, as evidenced by the new U.S. headquarters tower that it moved into on Wall Street itself in 2001.
The official history of Deutsche Bank on its website is remarkably frank, including the discussion of the bank’s operations during the Third Reich. The vast majority of companies would not be so forthcoming about considerably less embarrassing chapters in their history.
Negatives: Net income is down by 83% from the same period in 2007, largely reflecting asset and loan writedowns. Worldwide employment in investment banking and related functions has declined slightly in 2008.