Posts: 1162
Joined: Tue Nov 04, 2003 11:25 pm

Deutsche Bank Cuts Airline Coverage

Tue Apr 20, 2004 3:09 am

Interesting (and sad) news. I always thought Deutsche Bank was one of the best in covering the industry. Today's Aviation Daily reports that Susan Donofrio was let go as a result of this restructuring.

Deutsche Bank cuts 50 jobs in U.S.

Deutsche Bank reportedly has cut its U.S. equities workforce by 6%, eliminating about 50 jobs from the 850-employee division.

As part of the downsizing, the company dropped coverage of several sectors, including airline, aerospace, and phone equipment, according to Bloomberg News. Nine senior research analysts reportedly lost their jobs.

The company was unavailable for immediate comment.
Posts: 1918
Joined: Thu Mar 11, 2004 11:38 pm

RE: Deutsche Bank Cuts Airline Coverage

Tue Apr 20, 2004 4:28 am

Susan will be picked up by someone rather quickly. She is well-respected in the analyst industry and government.

From my line of work, I am able to track most analysts comings and goings. It appeared that Deutsche Bank was having a mass exodus while Citigroup Capital Markets was ramping up coverage.
Keep on truckin'...