Deutsche Bank has announced that it will relocate just under 250 roles from Dublin to other centres around the world.

The bank said the move is part of a wider strategy to simplify its operations and reduce costs, which was begun in July 2019.

Separately, the bank will be materially reducing its contractor workforce in Ireland over the course of the year following the natural completion of a number of projects.

Deutsche Bank said that the Irish capital will continue to be a major centre for its corporate bank business, as well as its specialist data and innovation lab.

To build up its corporate banking franchise in Ireland, the bank is adding 35 front office roles to the unit over the summer.

“We understand that the proposed plan will cause uncertainty and concern to impacted colleagues, and we are committed to supporting them through the consultation process. Dublin will continue to be an important centre for the bank,” said Mary Campbell, chief country officer, Deutsche Bank Ireland.

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