Deutsche Bank

UBS Wealth Management UK has poached a six-strong team from Deutsche Bank to broaden its service to financial planners.

Deutsche Asset & Wealth Management has named Jonathan Kent as head of financial intermediaries distribution for the UK and Ireland.

Standard & Poor's has cut the credit ratings of Barclays, Credit Suisse and Deutsche Bank due to "uncertain market conditions".

Deutsche Bank hid up to $12bn in paper losses during the financial crisis, helping it avoid a government bailout, former employees have claimed, according to reports.

London's financial sector will slash 13,000 jobs next year, and bring job levels to a 20-year low in 2014, according to a forecast study.

Switzerland's biggest bank UBS and Deutsche Bank, Germany's largest lender, have both posted sharp falls in profits for Q2 as fees and commissions dwindled in the face of the eurozone crisis.

Regulators have turned their attention to at least four of Europe's largest banks in a continued investigation of manipulation of the LIBOR benchmark interest rate.

ON EUROPE

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THE BIG QUESTION