In a reverse of a recent industry trend of shrinking the trading floor by slashing trading jobs, Deutsche Bank has plans to hire more than 100 traders for its equities desk.
According to media reports, the German bank is focusing on equities despite its bond trading experience and expertise. As Reuters reports, The hiring process, which has started recently, will beef up operations in the United States, Europe and Asia and across product groups, with an emphasis on technology and electronic trading.
The German bank is also looking to add personnel to its hedge fund financing group. Representatives from Deutsche Bank did not confirm the hiring news.
The news comes as Deutsche Bank is looking at significant losses and lost opportunities in the trading world. Last year, the banks revenue from stock trading dropped 25 percent in the last quarter of 2015, compared to the same time in 2014. This is combined, as Reuters reports, with a significant drop in equity derivatives weighing while prime services had a positive rating.
