Michael Cohrs, head of global corporate finance (GCF) at Deutsche Bank, has implemented a wave of managerial changes within the group, reasserting the need for senior investment bankers to increase client contact and control costs.
Cohrs sent a memo to staff on Tuesday firing two warning shots about the fragile state of the financial markets and the resulting impact on the bank. "The markets are still poor and our revenues and those of our competitors have continued to fall in 2002. Therefore we must continue to ensure we operate with the most efficient cost base," the statement said.
