Deutsche Bank braces for loss of strategic IT center in Russia

IT specialists galore, on attractive terms and available continuously… Russia has long positioned itself as a technological rear base for Western groups seeking to optimize their resources in a market that is growing rapidly.

The invasion of Ukraine and the sanctions deployed by the West against Russia, however, call this strategy into question, as Deutsche Bank is experiencing. According to the “Financial Times”, the first German bank employs 1,500 IT specialists in Moscow and Saint Petersburg.

They alone make up a quarter of the investment banking division’s IT troops and perform sensitive tasks, namely developing and maintaining software for the global trading business and its investment banking IT system. business.

Stress tests

As Western groups announce one after the other their withdrawal from the Russian market, Deutsche Bank has had to carry out stress tests to prepare itself for a hitherto unimaginable scenario: the sudden impossibility of exploiting its Russian technological center. (CRT) or that of paying its local employees.

“Russia is just one of the many technological centers that we have in the world, comments a spokesperson for the group. We have rigorously tested our operational resilience and are confident that the day-to-day running of our trading activities will not be affected. We do not have any code or data hosted in the Russian Tech Center. »

An important detail for the European supervisor housed within the European Central Bank, which follows the subject closely. But losing control of the CRT could have other serious consequences. “Trading is complicated and requires real-time support every day,” said a source quoted by the British daily. Without the cooperation of the Russian teams, things could start to go wrong almost immediately. »

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