Deutsche Börse has announced that it will cut 350 jobs - including 50 managers - as part of a restructuring and technology investment plan.

The German stock exchange group laid out its Roadmap 2020 strategy, which will focus on organic growth, targeted acquisitions and investments in new technologies.

The business will be divided into nine segments, with the aim of reducing structural costs by around €100 million by the end of 2020. One-off costs for the strategic programme will amount to approximately €200 million, most of which will be incurred in 2018.

Despite losing jobs initially, these cost savings will free up resources to create several hundred new jobs and invest close to €270 million in new technology.

Theodor Weimer, chief executive of Deutsche Börse, said: “We will be focusing even more consistently on the scalability of our business model and on enhancing our operational processes – overall, this will make us faster and more efficient.

“By the end of 2020, we want Deutsche Börse to be a more efficient company – and a bigger one, with more employees than today,” he added.

The Roadmap 2020 will see Deutsche Börse expand investment in four key technologies: blockchain, big data analysis, cloud computing and robotics/artificial Intelligence.

“Deutsche Börse plans to leverage blockchain technology to explore new lines of business, yielding corresponding profits,” read a statement. “Investments in cloud-computing technology, as well as in robotics and artificial intelligence will predominantly serve to further enhance efficiency in the existing businesses, while big data investments will be made in order to boost profits and enhance efficiency.”

The strategy is also aiming for targeted acquisitions in five growth areas – fixed-income securities, energy products, currencies, investment fund services, as well as data and indices.

Deutsche Börse's executive board will be revamped, with Thomas Book - responsible for the trading business - and Stephan Leithner - post-trading, data and index businesses - set to join at the start of July, while Christoph Böhm - chief information officer and chief operating officer - will join in November.

Deutsche Börse projects net revenue growth from structural opportunities to exceed 5 per cent per annum between now and the end of 2020. The company also anticipates an average annual growth rate for adjusted net profit between 10 and 15 per cent for the period.

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