By Ed Frankl
Deutsche Bank AG said Tuesday that it would open a new technology center in Berlin, supporting its investment and corporate banks.
The news comes after a report in the Financial Times that said the German bank has relocated hundreds of software developers and their families to Berlin from Russia after the invasion of Ukraine.
Deutsche employed around 1,500 software specialists in Moscow and St. Petersburg before the war, making up one-quarter of its investment bank's in-house computer specialists, the FT said.
Deutsche Bank offered all its Russian staff the choice of moving their jobs to Germany, with around half of employees accepting the offer, the FT said, citing unnamed sources.
"Growing our presence in Berlin will attract talent, add high quality developers to our platform, and build up critical AI expertise," Deutsche's Chief Technology, Data and Innovation Officer Bernd Leukert said.
The center will be led by Gerrit Einhoff, chief information officer for the corporate and investment bank in Germany, Deutsche said.
Write to Ed Frankl at edward.frankl@dowjones.com
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