Equities staff leaving Deutsche Bank as part of the German lender's radical overhaul of its investment bank will find their skills in scant demand, as lower revenues and electronification pressure rivals’ stock-trading teams.

This week, Deutsche started to make the first of what will amount to 18,000 job cuts across its global business as part of its latest strategy rethink. The bank will focus on downsizing its costly markets business by pulling out of equities sales and trading altogether.