London Deutsche Bank trader charged in Germany for ‘VAT fraud’ August 7, 2019 A trader who worked at Deutsche Bank in London has been charged by German prosecutors for his suspected role in VAT fraud. A 48-year-old Austrian is “accused of having participated as a member of a gang in a VAT carousel” connected to €145m of evaded tax, a statement from the Frankfurt Attorney General’s office said. [...]
How CEO Christian Sewing can save Deutsche Bank July 16, 2019 Pity Christian Sewing. The chief executive of German banking giant Deutsche Bank is not having a good time. What started with a tough but brave call to close his equities business has turned into a low point in the company’s history. There is the potential investigation into its entanglement with the scandal concerning the insolvent [...]
Deutsche Bank: saved in the nick of time? July 11, 2019 Will this be seen as the week when the Deutsche Bank supertanker started to turn, or began to list? The scale of the restructuring announced by chief executive Christian Sewing was certainly dramatic, but it left many in the City asking why the bank had waited so long before attempting to change course. Traders in the [...]
Deutsche Bank considers cutting up to 20,000 jobs June 28, 2019 Deutsche Bank is contemplating cutting between 15,000 and 20,000 jobs from its global equities division according to reports from Bloomberg and the Wall Street Journal. The news, revealed on Friday, would mean around 20 per cent of the company’s global workforce lose their jobs. Read more: Bank of Ireland sells UK credit card portfolio to London [...]
Deutsche Bank enters Britain’s mortgage market, launching regulated product May 29, 2019 Deutsche Bank Wealth Management has announced it will offer regulated mortgages to its private banking clients in Britain. Clients looking to buy houses in the UK and borrow £3m or more at competitive loan-to-value and interest rates will be able to use the product. The wealth manager will roll it out to clients who want [...]
City Moves for 29 May – Who’s switching jobs at Clearstar, Deutsche Bank Wealth Management and The Office Group? May 28, 2019 Today's City Moves includes Clearstar, Deutsche Bank Wealth Management and The Office Group. Clearstar Clearstar has announced that it has appointed Jennifer Balleza as the company’s chief financial officer with immediate effect. Jennifer, who has been serving as the company’s interim chief financial officer since January 2019, is not being appointed to the board of [...]
These are the top 25 best-paying companies in the UK May 23, 2019 A report released today has revealed that the UK's 25 highest paying company's offer staff between £61,000 and £90,000 as a median compensation package. The list by job site Glassdoor is dominated by finance and tech firms, three of which have their headquarters in the UK. John Lamphiere, EMEA managing director at Glassdoor, said: “It [...]
‘I don’t need banks’: Trump hits back at reports of Deutsche Bank’s red flags May 20, 2019 US President Donald Trump has hit back at reports Deutsche Bank employees flagged suspicious transactions by the president and his son-in-law Jared Kushner. The New York Times reported that anti-money laundering specialists at the bank recommended transactions by legal entities controlled by the pair be reported to a federal crimes watchdog. Read more: Deutsche Bank [...]
Deutsche Bank staff flagged Trump and Kushner activity as suspicious May 20, 2019 Multiple transactions by legal entities controlled by US President Donald Trump and Jared Kushner, his son-in-law, at Deutsche Bank in 2016 and 2017 set off illicit activity alerts on the bank’s system, according to the New York Times. Read more: Trump pardons fraudster media mogul Conrad Black Anti money-laundering specialists at Deutsche Bank recommended the [...]
Commerzbank profits and revenues slump weeks after Deutsche Bank merger talks collapse May 8, 2019 Commerzbank has reported sliding revenue weeks after merger talks with rival Deutsche Bank fell apart. The figures Revenue fell 2.8 per cent year-on-year to €2.16bn in the first quarter of 2019, from €2.22bn in 2018, driven by exceptional items. Read more: Deutsche Bank slashes revenue target after Commerzbank talks collapse Profit before tax plummeted 25.3 [...]