Skip to main content

Deutsche Bank Might Want To Figure Out This Suspended Currency Trader Thing

  • Author:
  • Updated:

Because the bank does not want Judge Astrid Nungesser to do that for it.

Deutsche Bank AG and four of its former traders agreed at a court hearing Friday to pursue an amicable resolution to controversy over their suspension early last year. The move came after Judge Astrid Nungesser warned that she sees risks for both parties if they don't agree to conciliatory proceedings…. Commenting on the risks for Deutsche Bank at Friday's hearing, Ms. Nungesser cited statements from the lower court, which said the lender hadn't informed its labor representatives properly about the traders' suspensions. She also pointed to statements made at the lower court regarding a video statement from Deutsche Bank's Alan Cloete, who at the time was head of foreign exchange and global finance. According to one of the traders, Ardalan Gharagozlou, Mr. Cloete in a video chat on Feb. 6, 2012, told him that he wants to "close that box [the traders' inappropriate communication about Libor] without causing a stir." At the hearing last year, Mr. Gharagozlou said also claimed Mr. Cloete told him that his bonus payments would be cut as a punishment but might be recouped afterward once the case calmed down.

Deutsche Bank, Suspended Traders to Seek Accord [WSJ]
Earlier: Deutsche Bank Puts Traders Who (Allegedly) Took Libor Into Their Own Hands In A Time Out



Robots To The Rescue At Deutsche Bank

John Cryan's gonna see if computers can catch his rogue traders, because his compliance people sure as hell can't.

By Nordenfan (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Deutsche Bank Still Doing Things Wrong Because It Takes Time To Stop Doing Things Wrong The Right Way

Going from "What's compliance?" to actual compliance could take at least a year.

Deutsche Bank Figures Out Where World’s Cheapest McDonalds Is, For Some Reason

And suggests some people might like to try it out on a date.


Deutsche Bank Is A Hedge Fund

Scheiße Capital Management is having a rough day.