The Frankfurt private bank Metzler wants to become more digital and is cutting jobs as a result. By 2028, around ten percent of the current 800 jobs are expected to be eliminated across the entire bank, the company said.
According to a spokeswoman, there will be no redundancies for operational reasons. Instead, some positions should not be filled or partial retirement arrangements should be used.
“By streamlining and digitalizing processes, Metzler is optimizing its positioning and increasing efficiency,” said the institute, which is celebrating its 350th anniversary next year. The bank also wants to concentrate on products and services with which it creates significant added value for customers: “In areas where this is not the case, the bank will work more closely with partners in the administrative area in the future, particularly in asset management. “
Board spokesman Gerhard Wiesheu, who has been in office since July 1, explained: “From a position of strength, we are continually developing in order to provide our customers with the best possible support tomorrow.” When the balance sheet was presented in May, the bank, which has been family-owned since 1674, reported an increase in new business in the first few months of the year and held out the prospect of further growth in assets under management.
