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DBS axes 12 brokerage staff as trade volumes slump
But they will be redeployed within the bank.
Singapore banking giant DBS Group Holdings cut at least 12 roles across Asia at its brokerage unit, the latest bank to shrink its trading desk as volumes slump.
According to a report by Bloomberg, DBS Vickers Securities is rationalizing its institutional business unit as it seeks to be “more competitive and responsive to market changes.” Those will be affected will then be offered opportunities to be redeployed within the bank.
“We continuously look at ways to enhance effectiveness, efficiency and productivity, including reviewing our systems and processes, as well as staffing levels,” DBS Vickers said.
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