Sina US Stock News, Bloomberg, February 19, Beijing time. According to people familiar with relevant news, Deutsche Bank has begun cutting at least 250 corporate and investment banking jobs globally; at a time when performance in the securities business continues to decline, Germany's largest bank is seeking to limit spending.

According to a source, layoffs are still ongoing, and the number may rise to more than 500. In the past two weeks, the bank has reportedly cut senior and mid-level investment banking jobs in London, the US, etc.; since the incident was not disclosed, people familiar with the matter requested anonymity. People familiar with the matter said that those abolished included Marc Benton, who is responsible for the European Energy Investment Bank, and Evanshaji-touma, which focuses on sovereign wealth and public pension funds.

The Frankfurt-based bank is cutting back on the number of jobs as efforts to raise investment banking revenues and returns have failed. In the last quarter, the transaction scale of the investment banking business headed by Marcus Schenck and Garth Ritchie declined 27%, and revenue from trading advisors, bond and stock issuance arrangements also fell 3%. Coupled with what CEO John Cryan said, “generous” dividend payments caused it to fall into a loss situation.

According to people familiar with the matter, some positions in the European, Middle Eastern and African corporate finance business led by Alasdair Warren have been cut. Those leaving office are also reported to have included Andrew Tusa, co-head of British corporate brokerage business.

A spokesperson for Tusa and Deutsche Bank declined to comment. Haji-Touma and Benton cannot be reached by phone.