No data or code stored in Moscow and St Petersburg tech operations, bank says
International trade sanctions threaten to cut off Deutsche Bank from its near-shore IT support and software development unit in Russia following the invasion of Ukraine. The global bank’s Russian technology centre employs around 1,500 staff, including software developers and systems maintenance experts who work on its global trading business and main corporate banking system. According to The Financial Times, the €25bn revenue bank is weighing up options as sanctions threaten to cut off the centre of expertise from the rest of its operations. “No quotes can make it out to the market, no negotiations can make it back from the market without passing through this software,” one executive told The FT. “Trading is complicated and requires real-time support every day… without co-operation from the Russian teams things could start to go wrong almost immediately.
