Deutsche Bank: Russian IT experts move to Berlin

Status: 07.06.2022 12:13 p.m

According to media reports, Deutsche Bank has persuaded hundreds of its Russian IT employees to move to Germany. They are to support the construction of the new technology center in Berlin.

According to media reports, Deutsche Bank is bringing many of its IT experts from the previous Russian technology center, which is spread across the St. Petersburg and Moscow locations, to its new IT center in Berlin. Several hundred IT employees from Russia have already moved to the bank’s new tech center in Berlin, reports the “Handelsblatt”, the “Financial Times” and the Reuters news agency.

According to the reports, Germany’s largest financial institution has offered around 1,500 employees at its Russian IT center jobs in Germany. According to the Financial Times, a mid-three-digit number of employees have already moved “quietly” and “with their families” and moved to the bank’s technology center, which is currently under construction in Berlin.

The bank did not comment on the reports. However, she announced that she would “build a new technology center in Berlin”. The staff there should “primarily develop applications for the investment bank and the corporate bank and integrate new technologies in these areas”. The head of the Berlin technology center will be Gerrit Einhoff in his role as head of IT at the corporate bank and the investment bank.

Essential know-how for investment banking

According to the “Handelsblatt”, the Russian employees are currently developing and maintaining software that is used in the institute’s important investment banking division. A smaller part of the employees will then maintain systems for the corporate customer division of the bank.

Apparently, the risk of closing the technology center in Russia and losing a lot of employee know-how has become too great for the bank. At the beginning of March, Deutsche Bank announced that it considered the operational risks from a possible closure of the technology center in Russia to be “very limited”. However, referring to its technology center in Russia, the interim report for the first quarter said: “We are exposed to the risk that our ability to use these technology resources will be impaired or lost”.

Russian IT center options are being studied

The Financial Times cites an IT manager, according to whom one should continue to look for “options” for the Russian IT center. However, half of the employees then accepted the offer to move to Germany. A total of around 2000 people would relocate to Berlin. At the bank, a team of 50 employees is responsible for supervising the relocations.

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