Deutsche Bank Wishing Its Legal Counsel Would Stop Being Such A Drama Queen

The Germans would prefer that Georg Thoma just save the drama for his mama.

Sure, Deutsche Bank has had a few hiccups lately what with LIBOR and a few sundry other little scandals, but this is a German bank we're talking about, so everyone needs to just relaxen.


A dispute has arisen on Deutsche Bank's supervisory board over what some members view as the bank's legal counsel's over-zealous response to scandals it has been embroiled in, Frankfurter Allgemeine Sonntagszeitung reported.
Counsel Georg Thoma is responsible for coordinating responses by managers to regulators investigating the bank's role in interest rate-rigging and precious metals price-fixing scandals.

Apparently when Georg took on the job of investigating German bad banking behavior he decided to act like a friggin' Greek...

"He exaggerates when he demands ever wider (internal) investigations and ever more lawyers are deployed," the paper quoted deputy supervisory board head Alfred Herling as saying.

It's almost like Georg has forgotten how to sweep this thing under the rug and decided to treat DB's supervisory board like a Sunday dinner with the Kardashians...

It quoted a second supervisory board member, Henning Kagermann, as saying: "Though all imaginable care has been taken, it is important for us that Deutsche Bank finally closes this chapter and looks to the future with full force again."
Most board members were in agreement over this, Kagermann added.

Basically, if Georg Thoma wants to help Deutsche Bank help itself, the first thing he needs to do is beruhigen already.

Deutsche Bank supervisory board split over scandal response: FAS paper [Reuters]