"Of the expected... redundancies, approximately 45% will come from the investment bank, 35% from wealth management and Swiss bank, 10% from global asset management, and 10% from wealth management Americas, " the bank said in its statement.
Slatin added that the key is what kind of management influence Bank of America will want to assert on Countrywide.
The move by Bank of China may also reflect risk management by the bank itself rather than bigger diplomatic motives.
Late Wednesday, Bank of America announced some of its plans: It will fire 3, 000 employees and replace the head of its investment bank, Gene Taylor, with Brian Moynihan, who has headed up investment management at the bank since 2004.
Deutsche Bank is more like a bunch of franchises that include an investment bank, an asset-management arm, a retail bank, a commercial bank and a private bank for the well-off.
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According to the Financial Times, the group is calling for swift changes in management at the bank.
"This is a highly reliable power source, " said Dennis Hughes, director of property management for the bank.
The fiasco is embarrassing for Mr Fischer, chief executive since 2004, who once headed risk management at Deutsche Bank.
Which means that the computing guys should probably have a great deal more influence over the management of the bank.
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Mr. Gulliver sent a memo to employees last week, representing the most explicit acknowledgment by senior management of the bank's failings.
Under new management, the Bank has shown itself to be much more fleet-footed than the tyro European Central Bank in Frankfurt.
"Regulators have reduced the complexity of products, but they have increased regulatory complexity so it's more complex for bank management, " he said.
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But Moses Harding, head of asset-liability management at IndusInd Bank said the bank needed to do a "balancing act between growth and inflation".
And since the management of any bank that applies for a hand-out would probably have to resign, only the most desperate would want help.
Why didn't the committee call representatives of ACA Capital Management and German bank IKB, the alleged victims on the other side of Mr. Paulson's bet?
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Perhaps frustrated by eternal crisis management, the Bank of Japan has for years prodded the government to sort out the banks, through stricter inspections of bad loans.
"We've had angry clients - Russian, Polish, British - calling us to see what's going on", says Demetris Taxitaris, head of asset management at the Bank of Cyprus.
As a member of the Wells Fargo (nyse: WFC - news - people ) board, Buffett recently opposed the bank management's decision not to expense stock options.
He was raised with help from his grandfather, who served in Patton's army, and his grandmother, who worked her way up from the secretarial pool to middle management at a bank.
Lloyds Banking Group's focus returns this week to the topic of its future management as the bank takes a series of steps to boost its financial health, including its successful bond exchange.
He talked about his own upbringing by a single mother and his grandmother, who worked her way up from being a secretary to middle management in a bank, to reject one of the epithets the McCain camp has thrown at him.
How can you begin to articulate sensitively the key points about disaster management succinctly in just a few minutes when you are sandwiched tightly between job losses at a Swiss bank and management changes at Apple?
The rest are to be bundled into the bank's private-client and asset-management division, which houses Deutsche Bank 24, the retail-banking arm (which already serves some small firms in any case), private banking (for richer customers) and Deutsche's online broker, called maxblue.
They can also use it to put controls around activities such as bank account management and foreign-exchange trades.
Thanks to sharp risk management, the investment bank has managed to navigate the turmoil better than its peers.
But shareholders are more interested in what all of this says about the quality of management further up the bank.
From 1996 to 2000, Steve was the Program Director, Knowledge Management at the World Bank where he spearheaded the organizational knowledge sharing program.
London-based Newton, a global investment management subsidiary of The Bank of New York Mellon Corporation, also has offices in Edinburgh, Leeds and New York.
Joshua Feinman, chief economist at Deutsche Bank Asset Management, noted that the Labor Department payroll report indicated fewer hours worked and no signs of an upward trend in wages.
An MBA from the Chinese University of Hong Kong, he worked for the fund management arms of Hongkong Bank and Japanese securities giant Daiwa before joining Thornton in 1994.
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