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Deutsche Bank cuts power and gas trading staff-trade sources
December 11, 2012 / 6:16 PM / 5 years ago

Deutsche Bank cuts power and gas trading staff-trade sources

NEW YORK, Dec 11 (Reuters) - Deutsche Bank is cutting members of its North American power and gas team as part of staff reductions the bank announced in July, two trade sources said on Tuesday.

A bank spokeswoman declined to comment, and the number of staff being cut could not be learned.

Deutsche will not completely pull out from its commodities businesses, which include oil, metals and mining, agriculture, financial derivatives and index products, online publication said in a Dec. 5 story, citing a source.

Deutsche Bank’s new co-chief executive, Anshu Jain, said in July that the bank was going to cut jobs.

As of 2010, Deutsche Bank Energy Trading LLC was listed as having about 155 employees, according to a U.S. Federal Energy Regulatory Commission filing.

It was ranked No. 37 of the largest natural gas traders in 2011, according to FERC data.

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