RTTNews | Jul 6, 2021 10:20AM EDT

10:20 Tuesday, July 6, 2021 (RTTNews.com) - Deutsche Bank AG (DB) announced Tuesday the proposed changes to its Ireland operations. The German investment bank plans to relocate just under 250 roles from Dublin to other centers around the world as part of its global strategy to consolidate similar infrastructure functions into fewer locations.

Further, the bank will be materially reducing its contractor workforce in Ireland over the course of the year following the natural completion of a number of projects.

This move is also part of a wider strategy by the bank to simplify its operations and reduce costs which was begun in July 2019.

Meanwhile, Deutsche Bank said it is committed to supporting its Irish corporate, institutional and private wealth clients in the region and to maintaining a significant presence in Ireland.

Dublin will continue to be a major center for Deutsche Bank's Corporate Bank business, which will be adding about 35 front office roles over the summer to build up its Corporate Bank franchise.

Deutsche Bank has had offices in Ireland since 1991. The proposed changes will not impact the service provided to the bank's clients.

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