Deutsche Bank’s commercial real estate advisory group is dismantling,
according to industry insiders, after enduring significant losses
during the recession. While a spokesperson for Deutsche denied the
claims, anonymous sources connected to the bank contend that the
commercial arm will dissolve in the near future, with its managing
director, Warren Friend, possibly leaving the bank for good, according
to Bloomberg news. Even as it shuts down this arm of the company,
however, the bank will continue to originate commercial mortgages,
sources say. Deutsche is currently seeking out places for employees
affected by the consolidation, although it is not immediately clear how
many staffers work in that department currently. [Bloomberg]