* Bank plans to trim Latin America equities business -source
* To focus business on Mexico, Brazil, New York -source
(Recasts with source comment, adds detail, Deutsche Bank no
FRANKFURT, April 23 Germany's largest lender
Deutsche Bank AG is trimming its equities team in
Latin America and plans to run the business mainly from Mexico,
Brazil and New York, a person familiar with the plans told
It was not clear how many staff would be affected by the
changes, which were earlier reported by Bloomberg. Citing two
people familiar with the matter, the news agency said the bank
was trimming headcount in locations that serve Latin America
such as Sao Paulo, Santiago and New York and was also
considering shutting its equities business in Chile.
Deutsche Bank declined comment.
The lender has already said its investment bank had seen a
slow start to the year, hit by market and political uncertainty
over the crisis in Ukraine and concerns about economic growth in
China and Germany.
Deutsche Bank has made 2014 a make-or-break year as it cuts
costs, slashes its balance sheet and works through a long list
(Reporting by Karen Rebelo in Bangalore and Andreas Kroener in
Frankfurt; Writing by Jonathan Gould; Editing by Philipp
Halstrick and David Holmes)