Bad Behaviour Clampdown at Deutsche Leads to Exodus – 13th Oct 2014
Senior bankers at Deutsche Bank AG are leaving the bank amid a crackdown on bad behaviour by traders, as the bank undergoes a probe by global regulators into allegations of attempts to rig markets, the Financial Times reported on Sunday. The bank is planning to stop rewarding the best earners on the trading floor with bonuses or promotions if they are “disruptive” or are not seen as team players, the newspaper said. These bankers are drifting away from traditional banking to less regulated areas like hedge fund management and boutique firms, the newspaper said. Deutsche Bank has been facing a set of investigations by regulators involving allegations that benchmark interest rates were manipulated and that some investors were unfairly favoured in off-market trading venues known as dark pools.