(by Ameli Berksman)

Commerzbank Securities, an investment banking arm of Commerzbank, will face job cuts, people familiar to the matter said on Monday.

"It’s important for Commerzbank that the jobs cut are quite far-reaching and that the discussion about investment banking is then brought to an end. Plans for the business were too ambitious and it has never grown into them," said one individual familiar to the matter.

The figure of job-cuts remains uncertain but the bank expects it to be large.

The division has now appeared to be a loss-making arm. It employs about 1,250 in London and Frankfurt.