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Deutsche Bank hiring 100 staff to boost equities trading-source

Reuters - UK Focus

LONDON/FRANKFURT, March 24 (Reuters) - Deutsche Bank (LSE: 0H7D.L - news) is hiring about 100 people to boost its equities trading operations as it seeks to recover ground in an area seen as vital to its new strategy, a source familiar with the matter told Reuters.

The move comes as Deutsche, a traditional bond trading powerhouse, looks to improve profitability by shifting business to less capital intensive areas such as equity trading.

The hiring process, which has started recently, will beef up operations in the United States, Europe and Asia and across product groups, with an emphasis on technology and electronic trading, the source said.

A spokesman for Deutsche declined to comment on the firm's strategy. (Reporting by Olivia Oran and Arno Schuetze; Editing by Rachel Armstrong and Maria Sheahan)