Bankhaus Metzler cuts ten percent of its jobs
Frankfurt-based private bank Metzler wants to become more digital and is cutting jobs as a result. According to the company, around ten percent of the current 800 jobs across the entire bank are expected to be cut by 2028.
According to a spokesperson, there will be no compulsory redundancies. Instead, some positions will not be filled or partial retirement arrangements will be used.
"By streamlining and digitalizing processes, Metzler is optimizing its structure and increasing efficiency," said the bank, which is celebrating its 350th anniversary next year. In addition, the bank wants to focus on products and services that create significant added value for clients: "In areas where this is not the case, the bank will work more closely with partners in the administrative area in future, particularly in asset management."
Gerhard Wiesheu, Spokesman of the Management Board since July 1, explained: "From a position of strength, we are continuing to develop in order to provide our clients with the best possible support in the future." At the presentation of the balance sheet in May, the bank, which has been family-owned since 1674, reported an increase in new business in the first few months of the year and announced further growth in assets under management.
Metzler Bank is focusing on digitization to enhance its efficiency and structures, which led to the announcement of cutting 10% of its jobs by 2028. Furthermore, the bank aims to collaborate more closely with partners in the administrative area, particularly in asset management, for certain products and services.
Source: www.dpa.com
