Deutsche Bank Transfers Russian Staff to Berlin

Germany’s biggest bank, the Deutsche Bank, is moving hundreds of their Russian IT experts hitherto based in St Petersburg and Moscow to Berlin, their families included. As Manager Magazin and Tagesschau report, the staff will work at the brand new Technology Center that Deutsche Bank is now operating in Germany’s capital. Though the bank denies to comment, it would seem that the risk of losing so much employee know-how has become too great for them. In the bank’s quarterly public report one can read, “We are at risk of having our ability to use these technology resources [in Russia] impaired or lost”. The transfer could comprise up to 2000 people, though estimates suggest that half the Russian staff have accepted the offer.