Timeslive reports that Deutsche Bank is cutting back its South African advisory and equities business as part of global restructuring.  

Deutsche Bank’s SA chief Muneer Ismail confirmed on Wednesday that the South African business would be affected‚ but he did not answer specific questions on job losses.  "We are reviewing our advisory and equities footprint in South Africa with a view to scaling back our activities in these areas.  This is part of a wider review of our businesses globally,” he indicated.  Ismail added:  “We remain committed to our South African clients and our on-the-ground presence in South Africa."  Germany’s largest bank is reviewing its global equities business - with media reports on Wednesday suggesting that as many as 10‚000 jobs could be affected worldwide.

• A short report by Matthew Savides is at Timeslive

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