Deutsche Bank

  • 13 Jan 2014 at 4:31 PM

Bonus Watch ’14: Everyone

Pay predictions for Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, RBS, UBS. Read more »

Deutsche Bank, Europe’s biggest investment bank by revenue, will review whether to punish senior employees including Alan Cloete for their roles in the interest-rate rigging scandal, according to a person with knowledge of the matter. Deutsche Bank’s supervisory board will discuss punishments early in the week of Jan. 27, said the person, who asked not to be named as the meeting isn’t public. These include firing or disciplining Cloete — who oversaw traders alleged to have sought to rig benchmark rates — and employees responsible for how the bank dealt with the scandal, the person said. The potential sanctions follow a Jan. 5 report in Der Spiegel that German banking regulator Bafin told Deutsche Bank in August that its management and supervisory boards didn’t adequately investigate and address the alleged rate-rigging. The German news magazine didn’t say where it got the information. [Bloomberg]

JP Morgan Chase and Deutsche Bank are extending bans on the use of multi-dealer online chatrooms, sources familiar with the plans told Reuters, as banks crack down on potentially inappropriate communications following a string of scandals. Chatrooms have been a focus for regulators investigating manipulation of benchmark interest rates and possible rigging in the $5.3 trillion-a-day foreign exchange (FX) market. A source familiar with developments at JP Morgan, the biggest U.S. bank by assets, said the decision was unrelated to the FX probes which surfaced in June, noting chatrooms had been under review at the bank since earlier this year. “This has always been about more than FX,” the source said, adding that the casual nature of online chatrooms increased the potential for “inappropriate” remarks to be made. [Reuters, Related: UBS Making Foreign Exchange Rate Manipulation Mildly More Inconvenient]

  • 21 Oct 2013 at 4:05 PM
  • Banks

Libor Manipulators Foiled By Ancient Internet Technology

Deep in the bowels of the Zwillingstürme, Deutsche Bank has found the secretive space where its rogue employees conspired to do terrible things to Libor. Read more »

As those of you outside of New York City can attest, in other parts of the world, people do not need to limit their grocery store purchases to the number of bags they can carry (if they prefer not to order food online, sight unseen), wait for the B for what feels like an eternity while F train after F train after F train passes through the station, stake their claim to an apartment the second they walk through the door if they want any shot of getting it,* fantasize about having an in-unit washer/dryer, or feel like they’re taking crazy pills while watching the featured couple on any give episode of House Hunters declare they are looking for “At least 4 bedrooms, a minimum of 2,000 square feet, big backyard, granite countertops, stainless steel appliances, double vanity in the master bath, finished basement, gotta have a finished basement” on a $185,000 dollar budget, a wish list that turns out to be totally doable.**

None of these are the reasons why Deutsche Bank is moving a whole bunch of bankers and traders to Jacksonville, Florida– those would be the immense cost savings, of course–, but they are some of the factors being cited as bright sides among the relocated. Read more »


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  • 13 Aug 2013 at 5:12 PM

Know Your CEOs: Anshu Jain

“[Deustche Bank chief Anshu] Jain is a hard-charging investment-banking veteran with a well documented interest in tigers.” [WSJ]