MUMBAI: India’s Tata Consultancy ServicesNSE -0.91 % could benefit from Deutsche Bank’s plan to invest €13 billion in technology to revive its business, but expects to face some short-term pain from the German lender’s moves to restructure operations. Problems at Deutsche Bank, which has decided to slash 18,000 jobs, have been a source of concern for India’s largest IT services company, which had flagged issues in the capital markets and European banking business at its first-quarter results ann ..
Deutsche Bank plans to exit most of its investment banking activity to focus on corporate and private banking, and asset management. The bank’s chief executive Christian Sewing said it would invest as much as €13 billion by 2022 in technology and to drive digitisation across all businesses. “We see ourselves as a strategic partner and participating across the full spectrum from the immediate requirements of efficiency and savings to the medium to longer term requirements of transformation that t ..
“We have said that capital markets in general there is softness, and in the first quarter has got worse. My own belief is that it will continue for a little more time. On the equities and derivatives side, most firms seem to be rethinking their strategies,” said NG Subramaniam, the chief operating officer at TCS.
Deutsche Bank plans to exit most of its investment banking activity to focus on corporate and private banking, and asset management. The bank’s chief executive Christian Sewing said it would invest as much as €13 billion by 2022 in technology and to drive digitisation across all businesses. “We see ourselves as a strategic partner and participating across the full spectrum from the immediate requirements of efficiency and savings to the medium to longer term requirements of transformation that t ..
“We have said that capital markets in general there is softness, and in the first quarter has got worse. My own belief is that it will continue for a little more time. On the equities and derivatives side, most firms seem to be rethinking their strategies,” said NG Subramaniam, the chief operating officer at TCS.
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