After significant job cuts in recent years as part of the restructuring initiated in 2019, Deutsche Bank is hiring again.

100 new jobs are currently being created in the so-called Corporate Center of Excellence, a department of the corporate bank.

However, the new positions will not be created at the headquarters in Frankfurt, but in Berlin.

Archibald Preuschat

Editor in Business

  • Follow I follow

From there, Germany's largest commercial bank looks after companies of all sizes - self-employed, business customers and medium-sized companies through to large corporations with a global orientation.

The working language is English when the German bankers take care of payment transactions, trade financing and securities custody and related services for their customers.

And the customers would be easier to reach personally from Frankfurt with its better flight connections compared to the capital: Because they are scattered all over Europe, the Middle East and Africa.

Highly qualified jobs

But the Deutsche Bank relies on the Berlin location.

Germany's largest institute employs 3,500 people there.

For comparison: In Eschborn and Frankfurt there are currently around 10,000.

Deutsche Bank has been back in Berlin since 2010, where jobs for highly qualified bank employees are being created, for example in the risk and compliance area.

But also to support start-up companies that like to settle in the capital.

According to the German Start-up Monitor, 17 percent of newly founded start-ups were based in Berlin last year, only surpassed by the most populous state of North Rhine-Westphalia, where 18.5 percent of young companies are based.

However, Deutsche Bank also relies on the attractiveness of Berlin as a location and, according to the institute, the “continued low cost of living” in the capital.

People from 83 different countries work for Deutsche Bank in Berlin.

But there is no dominant nationality, said a bank spokesman: British, Italians, Indians, Poles, Turks, they all work for Germany's largest bank.

This also vigorously contradicts the assertion that it would be easier for the big bank to recruit employees for hip Berlin than for Frankfurt, which is rather provincial from the outside.

That makes no difference when it comes to the battle for talent.

And the Frankfurt Main Finance financial center initiative is diplomatic.

The initiative does not comment on members' location decisions, which refers to a statement by the association's managing director Hubertus Väth: "Everything that is good for Germany and attracts international talent is good for Frankfurt." But the positions that Deutsche Bank in Berlin will soon be missing in Frankfurt, because the number of employees in the institutes on the Main will soon fall, predicts Ulrike Bischoff, an analyst at Helaba: By the end of 2023, she expects a drop of around 4 percent to then around 63,500 jobs.