Deutsche Bank is preparing for the loss of about a quarter of investment IT professionals due to anti-Russian sanctions. This is reported by the Financial Times (FT). The bank’s technology center in Russia (RTC) employs 1.5 thousand people, they are engaged in the development and support of software for the main corporate banking system and trading systems of Deutsche Bank.
As the FT writes, citing its sources, with the outbreak of the military conflict in Ukraine and the imposition of sanctions against Russia, Deutsche Bank is conducting stress tests of systems and checking the possibility of disaster recovery in case of termination of work with RTC.
It is also reported that the bank has suspended hiring staff for the center in Russia and is considering the possibility of transferring all or part of the specialists to other countries.
Although the main equipment is located in the EU, and the data is not stored in Russia, the cessation of the center’s work could lead to the loss of a large number of experienced IT specialists, the newspaper’s sources note. Officially, Deutsche Bank responded to the FT’s request that “Russia is just one of the many technology centers that we have around the world,” adding that everyday trading activities will not be affected.