The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Friday, 20 September

Going? Deutsche

1 Great Winchester Street

Deutsche Bank is likely to be downsizing in the City of London if not leaving the UK finance capital altogether. The bank has their largest investment banking operations at 1 Great Winchester Street.

The bank directly employs a facilities management team and outsources to CBRE Global Workplace Solutions.

A London branch was first opened in 1873 as the first European office outside Germany. The bank also occupies two properties in Birmingham (Broad St and Brindley Place) and has offices in Bournemouth.

Deutsche Bank employs over 8,000 people in the UK and is one of the largest employers in the City. An international workforce in the UK numbers 100 nationalities.

Up until now, the UK offices have been seen as a huge cog, if not the main cog, in Deutsche Bank's global network. However, a downturn in business has seen the German finance giant hard hit to a point where they need to restructure to stay in business.

18,000 jobs will be cut worldwide. Redundancies have already been announced in Japan and Asia-Pacific. Conflicting statements from the bank say that they will exit share trading, much of which happens in London, while maintaining a significant presence in the City.

It has been reported that the first employees to be made redundant were simply told to collect their belongings and leave.

For year 2020-2021, Deutsche Bank will support just one charity partner, with a focus on mental wellbeing. By 2022, they will have axed 18,000 employees.



On Monday July 7, Deutsche Bank’s Management Board announced a series of measures to restructure the bank’s operations. These measures include:

  • The exit of Global Equities and a significant reduction in Corporate and Investment Banking.

  • Returning to a focus a core businesses of corporate banking, financing, foreign exchange, origination & advisory, private banking, and asset management.

  • A significant restructuring of businesses and the infrastructure that supports those businesses.

  • The bank currently expects the restructuring including built assets and redundancies to cost EUR 7.4 billion by the end of 2022.

Picture: 1 Great Winchester Street.

Article written by Brian Shillibeer


Related Articles

Kier Komes Krashing Down

The Kier Group's shares have been plummeting in a style reminiscent of Carillion and Interserve - and on Monday June 17 things got worse as the construction and FM...

 Read Full Article
Settlement Scheme Success Says Secretary

Home Secretary Sajid Javid has confirmed that more than 750,000 applications have now been received for the EU Settlement Scheme. The EU Settlement Scheme is designed...

 Read Full Article
£3.347 Billion Office Spend Outside Of London

The total investment volume and take-up of office space in 10 major cities across the UK in 2018 has been complied by commercial property specialists Savoy...

 Read Full Article
The Resources And Waste Strategy Is Missing A Strategy

Defra's Resources And Waste Strategy For England was highly anticipated and yet can only be considered a wish list rather than a concrete plan according to Harvey...

 Read Full Article
Real Estate & Built Environment Positive Despite Brexit Shadow

A Rewards & Attitudes Survey has found that professionals in the industry are mostly positive about the outlook for the real estate and built environment in 2019 -...

 Read Full Article
RICS Quals Earn The Big Bucks & Gender Pay Gap Closing

A 39% higher salary – that's the effect a RICS qualification has on average pay in the real estate and built environment sector says our survey. This is just...

 Read Full Article
Encourage Workers To Apply Early For EU Settlement Scheme

Monday March 25 saw the Home Office launch a new nationwide marketing campaign to encourage EU citizens to apply early for the EU Settlement Scheme - this was ahead of...

 Read Full Article
Brexit Hitting Commercial Property Builds

The cities in the UK with the most and least number of commercial properties to let have been revealed with Brexit - or the lack of it - being blamed for the uncertainty...

 Read Full Article
Are You Prepared For Brexit And Right To Work?

The Home Office have made changes to the Right to Work checking system, writes Stefan Sosnowski, who is  of the opinion that this is not the panacea for all that it...

 Read Full Article
Spring Statement 2019 - What You Need To Know

The Chancellor presented his Spring Statement to Parliament on March 13 – here's a summary of what Big Phil Hammond said of relevance to the FM sector. The...

 Read Full Article