Bethel Finance news:
Deutsche Bank has trimmed its equities desk in Israel as part of broader reductions across Central Europe, Middle East and Africa, banking sources told Reuters.
The German bank laid off three of its seven equities sales and research staff in Tel Aviv and in all, about 20 percent of Deutsche's equities staff across CEEMEA have been made redundant, one source said.
About 25 people still remain in the Tel Aviv office, mostly in fixed income and corporate finance.
"All in all, Deutsche is still very much engaged in Israel," the source said.
Deutsche was not immediately available for comment.
The bank, a member of the Tel Aviv Stock Exchange, launched equity operations in Israel in 2004 and has become one of the largest brokers for instutional investors in Israel.
Last year, it led a $750 million financing round for Isramco to push ahead with work at the Tamar natural gas field off Israel's coast. The bank has also bought shares in Leumi, one of Israel's largest banks, and placed them with clients as part of the government's privatisation of Leumi.
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