Deutsche Bank to Establish Berlin Tech Centre

Deutsche Bank has announced that it will establish its next Technology Centre in Berlin. The centre will primarily support the ambitions of its Investment Bank and Corporate Bank through application development and the integration of new technologies.

The new centre will be led by Gerrit Einhoff, chief information officer for the Corporate Bank and Investment Bank in Germany.

Deutsche Bank is one of several major institutions impacted by the Russian invasion of Ukraine and subsequent sanctions, as Moscow was home to a large number of its technology development and support staff. Sources say the bank has been searching for a new, suitable address to host these staffers and that about half the 1,700 Moscow-based staff have moved, or will move, to Berlin.

The bank says Berlin is a thriving location for technology and fintech companies, with a strong support network of academic institutions, large corporates, and innovative communities. It has the second biggest startup scene in Europe and benefits from a diverse talent pool. The city is a hub for Artificial Intelligence and Machine Learning expertise, the bank says, adding this represents a key opportunity for the bank to create significant value for its clients and further enhance the efficient running of its operations.

“Our Technology Centres play a key role in our technology transformation in close partnership with our businesses,” says Bernd Leukert, chief technology, data and innovation officer. “Growing our presence in Berlin will attract talent, add high quality developers to our platform, and build up critical AI expertise to help redefine banking and contribute to our sustainable growth goals.”