• How our workforce developed in 2021

While implementing our strategy, as of December 31, 2021, Deutsche Bank had 82,969 employees, a decrease of by 1,690 employees or -2.0% compared to 2020.

The number of embedded external workforce (contractors, agency temps and IT vendor resources) decreased from 7.6 k FTE as of December 31, 2020 to 6.9 k FTE as of December 31, 2021 (IT vendor resources included in 2021 and restated for 2020).

Deutsche Bank remains committed to carrying out restructuring of our workforce in a transparent and socially responsible manner. The bank cooperates with employee representatives and their councils based on applicable laws.

As the bank worked toward its headcount targets in 2021, hiring focused on strengthening our control functions and insourcing critical IT from our vendors. One third of all open positions were filled with internal candidates. Prioritizing internal candidates helps employees affected by restructuring find new roles in the bank. Internal mobility also helps reduce the bank’s redundancy and recruitment costs.

FTE development

−1,665 (−5.6%)

Private Bank 
mainly driven by the reductions in Germany and in EMEA ex Germany

+ 146 (+3.7%)

Asset Management
primarily driven by increases in Germany, UK and in Asia/Pacific

+477 (+1.6%)

Infrastructure functions
primarily driven by increases in Technology Data & Innovation (+1,040) mainly driven by insourcing of business critical external roles, partly offset by reductions in all other infrastructure functions

Circle with four business divisions

−382 (−5.0%)

Investment Bank
mainly reductions in operations functions

−55 (−0.4%)

Corporate Bank
mainly driven by reductions in the Americas and UK, partly offset by increases mainly in APAC

−211 (−44.2%)

Capital Release Unit
mainly driven by reductions related to the sale of Global Prime Finance and Electronic Equities platform

Please note, when referring to ‘employees’, calculations are based on FTE unless otherwise stated.
Numbers may not add up due to rounding. Prior years’ comparatives were aligned to the presentation in the current year.

FTE development by region

FTE in k 202120202019
Germany 35.7 37.3 40.5
Europe (excluding Germany),
Middle East and Africa
19.3 19.6 19.7
Americas 7.7 8.3 8.6
Asia/Pacific 20.2 19.4 18.9
Total 83.0 84.7 87.6
  • Germany (– 1,574; – 4.2%) driven by the implementation of restructuring measures, primarily in the Private Bank and Infrastructure functions
  • North America (– 592; – 7.3%) driven by reductions in all divisions and related infrastructure functions; Latin America (– 3; – 2.0%) due to reductions primarily in Brazil as a result of the implementation of our footprint strategy
  • EMEA ex Germany (– 306; – 1.6%) mainly driven by reductions in the Private Bank and in the Corporate Bank partly offset by increases in Technology Data & Innovation
  • Asia/Pacific (+785; +4.0%) primarily driven by growth in Technology Data & Innovation.

Workforce development by region



in 2021 is -2.0% or
-1,690 employees below 2020

thereof Germany

35,741 (43%)

in 2021 is -4.2% or
-1,574 employees below 2020

FTE development by division

FTE in k 202120202019
Corporate Bank (CB) 13.3 13.3 13.5
Investment Bank (IB) 7.2 7.6 7.5
Private Bank (PB) 28.1 29.8 31.4
Asset Management (AM) 4.1 3.9 3.9
Capital Release Unit (CRU) 0.3 0.5 0.6
Infrastructure 30.1 29.6 30.7
Total 83.0 84.7 87.6

Prior years' comparatives were aligned to the presentation in the current year.

Staff turnover

Total staff turnover rates are comprised of exits from resignations and departures initiated by the bank, including restructuring or performance-related terminations and terminations related to fixed-term contracts.

Voluntary leaver rates declined in 2020 mainly driven by the COVID-19 pandemic. In 2021 voluntary leaver rates returned almost back to pre-COVID-19 levels: the voluntary staff turnover rate was at 7.9% (2020: 5.9%, 2019: 8.0%).

Total staff turnover rate



in 2021 is +2.0 percentage points
higher than 2020 (9.2%)



in 2021 is +2.0% percentage points
higher than 2020 (5.9%)

Graph showing total staff turnover

Total staff turnover rate

FTE in % 202120202019
Total staff turnover rate 11.2 9.2 12.6

Graph showing voluntary staff turnover by region

Voluntary staff turnover rate

FTE in % 202120202019
Voluntary staff turnover rate 7.9 5.9 8.0

Human capital Return on Investment (RoI)

Using quantifiable metrics improves the credibility of HR as a profession and allows us to identify specific, measurable ways that HR services benefit the organization.

For the area of productivity, International Standards for Human Resource Management ISO 30414 recommend the Human Capital Return on Investment to measure HR performance. This metric shows how effectively the investment in human capital is supporting the organization’s goal and is calculated based on the ratio of income/revenue to employment costs.

Human Capital RoI for Deutsche Bank Group improved from 27% in 2020 to 37% in 2021 mainly driven by an increase of net revenues. Total Workforce Costs (compensation and benefits for employees plus service fees for contractors, agency temps and IT vendor resources) decreased from 11,127 M € in 2020 to 11,090 M € in 2021 (IT vendor resources included in 2021 and restated for 2020).