DMG's Jakarta units merged

DMG's Jakarta units merged

SINGAPORE (Reuters): Deutsche Morgan Grenfell said yesterday
its equities division would consolidate its Indonesian operations
into its Hong Kong and Singapore offices.

The group said in a statement the move continued a process
begun last year of streamlining its regional equities business.

It said it would continue to cover Indonesia from Singapore
and Hong Kong.

It said it also planned to reorganize its Philippines equities
operations but would maintain an on-the-ground equities presence
in that market.

The statement said the changes only affected its equities
business in Indonesia and the Philippines. It would continue to
offer a broad range of other products in the two countries
through its other divisions.

Deutsche Morgan Grenfell is the investment banking arm of
Germany's Deutsche Bank AG and employs 2,000 staff in the Asia
Pacific region, it said.