Deutsche Bank is winding down its remaining software technology centres in Moscow and St Petersburg as Germany’s largest lender ends two decades of heavy reliance on Russian IT expertise in the wake of the country’s invasion of Ukraine.
The Frankfurt-based bank has offered individual severance packages to the 500 IT experts still left on the payroll in Russia, people familiar with the matter told the Financial Times.
At the start of the war Deutsche Bank employed 1,500 people in its Russian technology centre, who were responsible for developing and maintaining software for its global trading business and main corporate banking system.
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