With trillions in assets across the world, Deutsche Bank is truly a financial powerhouse. What you may not know is that a key part of their global operation resides in the Jacksonville region and has for more than 15 years.
Deutsche Bank’s presence in Northeast Florida dates back to 2008 and originally planned for a few hundred roles across operations, investment banking and IT support. Today, there are more than 2,000 employees in the Jacksonville region and the functional support has expanded to include Investment Bank, Corporate Bank, Private Bank, Research, a suite of Operations and Technology functions, Compliance, Anti-Financial Crime, Finance, Audit, Legal, Risk Management and Human Resources.
“Jacksonville provided the opportunity to grow our talent pool in a way that was cost efficient, but cost wasn’t the sole driving factor,” said Brian Fay, Americas head of operations and managing director for Deutsche Bank Jacksonville. “We realized quickly that we didn’t have to keep jobs in New York to get the level of talent and experience we needed to support and grow our business. Deutsche Bank has a lot of complex roles and it’s incredibly helpful to have people in Jacksonville with the appropriate skill sets.”
Jacksonville has been a great place to grow on several different levels,” added Nader Jarun, Deutsche Bank’s chief of staff for Jacksonville. “Not only are we able to find the talent we need for our functions here, but our colleagues in other U.S. locations, and around the world, are looking to the Jacksonville site as a place to compliment the bank’s strategy, foster employee career growth and enable our employees to maintain a better quality of life. That kind of career mobility is something on which we pride ourselves.
The growth of Deutsche Bank has been helped by the continued rise of the financial services sector in the Jacksonville region. With more than 64,800 employees, the industry is one of the largest employers in the area and regularly sees new companies and fresh talent arrive almost daily. “It’s great for Deutsche Bank to be in a location where so many leaders in financial services reside,” said Fay. “Yes, we all do compete for talent, but that pushes us all to be better and to differentiate ourselves.”
As for the future of Deutsche Bank in Jacksonville, it will remain a focal point of their regional strategy. “We will always look for ways to build synergies based on our scale here,” said Fay. “Plus, we want to continue to give back to a community that has done so much for us. Since we don’t have retail branches in Jacksonville like some of our competitors, our involvement and support in the region helps generate a #positiveimpact with our community partners and clients as well as increase the awareness of the DB brand. We’re excited about where we are going as a bank and Jacksonville will remain an integral part of our plans.”