Deutsche Bank execs fitted for HK$117,500 suits on day thousands were laid off

Business | 12 Jul 2019 7:18 pm

Deutsche Bank chief executive Christian Sewing has spoken out after it emerged that top executives at its City of London office were fitted for £12,000 suits (HK$117,596) on the day that thousands of the bank’s staff lost their jobs, The Guardian reports.

Tailors from Fielding & Nicholson, an upmarket tailor, were seen walking out of the bank’s office with suit bags on Monday. The men were initially assumed to be workers who had been made redundant.

Ian Fielding-Calcutt, the tailor’s founder, and Alex Riley were there to fit suits for senior managers in spite of plans to cut 18,000 jobs worldwide, including Hong Kong.

“Our timing was not great,” Fielding-Calcutt told Financial News. “I think a lot of the people getting laid off were traders of some sort, who don’t wear suits, and so we just went ahead as normal with our clients who obviously weren’t affected by the cuts.”

Fielding & Nicholson suits take up to eight weeks to make. Prices start at £1,200 and can go as high as the customer chooses, an employee said.

Deutsche CEO Sewing told the German newspaper Handelsblatt that he had personally reprimanded those executives involved:

"That someone would let a tailor come on such a day is disrespectful. In no way is this behaviour in keeping with our values.

"I assume in any case that the two colleagues will not forget my telephone call,'' Sewing said.-Photo: The Guardian




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