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John Thain, who was also CEO of the New York Stock Exchange and President and Chief Operating Officer of Goldman Sachs GS, is currently a member of the board of directors of Uber Technologies. Deutsche Bank AG said on Wednesday, April 4, that it had proposed four new representatives of shareholders to sit on its supervisory board, including John Thain, in a reshuffle.
President Donald Trump's growing anxiety about the federal Russia probe has spilled into public view with his warning that special counsel Robert Mueller would be out of bounds if he dug into the Trump family's finances. But that's a line that Mueller seems sure to cross.
Germany's largest bank has asked for more time to respond to a request from Democrats on a U.S. House of Representatives panel for details about U.S. President Donald Trump's possible ties to Russia, a person familiar with the matter said on Monday. external counsel sent a letter dated Friday June 2 to the Democrats saying it needed additional time, the source told Reuters.
Deutsche Bank AG is considering an unusual approach to providing relief to subprime mortgage borrowers as part of a $7.2 billion settlement with the U.S. government: lending money to private equity firms and hedge funds. Germany's biggest bank, dogged last year by questions about its capital levels, is exploring ways to avoid using its balance sheet to buy soured mortgages that it can partially forgive, according to a person with knowledge of the matter.
Two of Europe's biggest banks have been hit with fines of more than A 10billion for mis-selling toxic mortgages before the financial crisis. US regulators yesterday ordered Deutsche Bank to pay A 5.9billion for its part in the debacle - less than expected - while Credit Suisse agreed to shell out A 4.3billion.
Deutsche Bank sought to reassure staff about its financial strength on Friday, in the wake of a US$7.2 billion settlement with the U.S. Department of Justice over its sale and pooling of toxic mortgage securities. The logo of Germany's largest business bank, Deutsche Bank is seen in front of one of the bank's office buildings in Frankfurt, Germany, October 27, 2016.
Deutsche Bank has agreed to a $7.2 billion settlement with the U.S. Department of Justice over its sale and pooling of toxic mortgage securities in the run-up to the 2008 financial crisis. The agreement in principle, announced by Deutsche Bank's Frankfurt headquarters early Friday morning, offers some relief to the German lender, whose stock was hit hard in September after it acknowledged the Justice Department had been seeking nearly twice as much.
Yuri Khilov, while head of Deutsche Bank AG's Russia equity trading desk, allegedly engaged in "large-scale" market manipulation from 2013 to 2015, using accounts that he opened in his relatives' names, according to the Russian central bank. Khilov is accused of booking trades in the name of Deutsche Bank's London office and then buying and selling stocks for his relatives within minutes, skimming the profit, the Bank of Russia said in a statement Tuesday.
European banks may reach faster, less costly settlements with the U.S. Department of Justice as a result of Donald Trump's unexpected triumph in the U.S. presidential election, according to Barclays Plc analysts. "Some Democrat appointments at the DoJ have only a few weeks left before they are replaced," London-based analysts Mike Harrison and Jeremy Sigee wrote in a note to clients on Friday.
Barclays Plc is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high, according to a person with knowledge of the situation. The Justice Department's starting point for negotiations wasn't disclosed but was less than the $14 billion initially presented by the government to Deutsche Bank AG in its talks with the U.S. over similar allegations, two people with knowledge of the matter said.
Deutsche Bank AG, Germany's biggest bank, is exploring shrinking its U.S. operations as mounting legal expenses threaten to eat into the firm's capital, according to two people with knowledge of the matter. Such an option is being considered as part of the bank's broader strategy review, which evaluates businesses in the context of regulatory and capital requirements, said the people, who asked not to be identified because the talks are private.
NEW YORK, Oct 12 Investors turned away from risk in the stock market, snatching the most cash from U.S.-based equity funds in five months during the latest week, Investment Company Institute data showed on Wednesday. The withdrawals came as investors tried to stomach fears over Brexit, the stability of Deutsche Bank AG and the timing of the next U.S. interest rate hike.
Deutsche Bank AG is among European lenders that must raise additional funds to shore up finances and restore confidence in the industry and the Continent's economy, said Jim McCaughan, the head of Principal Global Investors. "They absolutely need to raise more capital and they're not the only European bank who does," McCaughan said Friday in an interview on Bloomberg Television.
Until now, German officials have played down their role in the standoff, saying it is up to Deutsche to work out a deal with the U.S. Department of Justice , which is demanding up to $14 billion to settle claims the lender mis-sold mortgage-backed securities before the financial crisis. But government officials in Berlin, speaking on condition of anonymity, told Reuters they hoped to facilitate a quick deal that would buy Deutsche Bank time to regain its footing.
Shares in Germany's biggest bank, Deutsche Bank are continuing to rally on Tuesday, extending gains into a second day, and fighting back against the huge losses seen in recent weeks. Around 8:50 a.m. BST Deutsche's stock is trading up by around 1% from Tuesday's close at a 11.86 in Frankfurt.
Oct 4 Conservative lawmakers lashed out at Germany's economy minister on Tuesday for attacking Deutsche Bank's chief executive, saying the minister's job was to support the country's biggest bank, not talk it down. Sigmar Gabriel, the economy minister and leader of Chancellor Angela Merkel's junior coalition partner, the Social Democrats, criticised Deutsche Bank CEO John Cryan for blaming speculators when the bank's share price plunged last week.
Oct 4 Shares in Deutsche Bank rose 2.5 percent on Tuesday, benefiting from the support of its major clients and even rivals, rebounding after concern over its future last week sent the stock to a record low. German business leaders from companies including BASF , Daimler, E.ON, RWE and Siemens lined up to defend the bank in the German press over the weekend, which included a public holiday on Monday.
A man walks past a stock quotation board outside a brokerage in Tokyo, Japan, September 9, 2016. A man walks past a stock quotation board outside a brokerage in Tokyo, Japan, September 9, 2016.
Oct 2 German Economy Minister Sigmar Gabriel accused Deutsche Bank on Sunday of crying foul of speculators even though he said the bank had itself pushed a business model based on speculation. "I did not know if I should laugh or cry that the bank that made speculation a business model is now saying it is a victim of speculators," Gabriel told reporters on a plane to Iran, which he is visiting with a business delegation.
Deutsche Bank shares staged a dramatic recovery on Friday afternoon after reports emerged that it could only have to stump up 5.4 billion US dollars , rather than 14 billion US dollars , as part of a US Department of Justice settlement. The German lender's shares had slipped to 9.98 euro at one point, their lowest level since the 1980s, but recovered and were trading 7.5% up at 11.70 euro in afternoon trading.