DWS rejects greenwashing allegations after probes launched in US and Germany August 27, 2021 German asset manager DWS has rebuffed claims that it misled clients by overstating its sustainable investing activities, after the news of probes by US and German regulators into the allegations sent shares plummeting. Shares in the €859bn group plunged by as much as 14.2 per cent yesterday, after reports emerged that the German regulator BaFin [...]
Deutsche Bank profit beats estimates despite trading revenue dip July 28, 2021 Deutsche Bank have today announced better-than-expected quarterly results despite a decline in its investment banking revenue. Shares in Germany’s biggest lender had gone up by 2.2 per cent in pre-market trading. It marks Deutsche’s fourth quarterly profit in a row, its longest streak in the black since 2012. The net profit attributable to shareholders in [...]
Deutsche Bank compensates Spanish winemaker over forex mis-selling June 28, 2021 Deutsche Bank has dished out over €10m to Europe’s largest wine exporter to settle a dispute over the alleged mis-selling of foreign exchange derivatives, according to reports. As the lender’s internal investigation nears its close, the decision to settle could pile pressure on Goldman Sachs and BNP Paribas, which face similar accusations from Japanese engineering [...]
HSBC to sell French retail bank to Cerberus-backed My Money Group June 18, 2021 HSBC has agreed to sell its French retail banking arm to My Money Group, a company backed by private equity firm Cerberus. The transaction has been agreed, wrapping up an 18 month effort by HSBC to shed the struggling business as it shifts its investment focus to Asia. My Money Group on Friday announced the [...]
Deutsche Bank set for $1bn windfall on trader’s shipping bet June 15, 2021 Deutsche Bank is set to make up to $1bn on a long-shot bet on Israeli shipping firm Zim after its value surged following record-high global freight rates, according to a Bloomberg report. The bank’s distressed debt trader Mark Spehn had wagered less than $100m over the past five years on building a position in the [...]
Deutsche Bank ‘confirms move to adopt hybrid working’ as work-from-home era fades June 1, 2021 Deutsche Bank the latest to adopt hybrid working as work-from-home era fades
Deutsche Bank to move another 100 jobs out of London in post-Brexit overhaul May 25, 2021 Deutsche Bank is moving 100 jobs out of London and relocating the roles to the EU and Asia as the lender overhauls its corporate bank in the aftermath of Brexit. Germany’s biggest lender is making a quarter of the division’s 400 staff redundant, with their roles moved to Dublin, Berlin, Frankfurt and cities across Asia, [...]
Deutsche Bank lures Barclays veteran Daniel Ross to head UK investment banking coverage May 19, 2021 Deutsche Bank has recruited senior Barclays banker Daniel Ross to head its investment banking coverage in the UK and Ireland. Ross is currently Barclays’ vice chairman for UK investment banking and its global head for media banking. He has been based in Canary Wharf for more than 12 years, but will move to the City [...]
Deutsche Bank taps US general counsel to lead white collar crime unit May 18, 2021 Deutsche Bank has tapped its US general counsel to become global head of anti-financial crime and group anti-money laundering officer, the lender said today. In a memo to employees seen by Reuters, the German banking giant said Joe Salama would head up its efforts to crack down on white collar crime. Deutsche Bank has come [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 12, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Capital Group strengthens UK sales team Investment firm Capital Group, which has £1.7 trillion assets under management, has expanded its UK financial intermediaries team this week by hiring a new managing [...]