Trump defends use of Deutsche Bank, says bank has been 'maligned'

13 Juillet, 2019, 00:56 | Auteur: Auguste Feret
  • Trump defends use of Deutsche Bank, says bank has been 'maligned'

The bank announced Sunday that it would cut 18,000 jobs by 2022, downsizing its volatile investment banking division.

After two men carrying suit bags were spotted leaving the Deutsche Bank premises, London-based Financial News reported the bespoke outfits from Fielding and Nicholson were worth as much as 1,500 pounds (1,670 euros, $1,882) each.

"I can't understand that someone would call tailors to fit suits on Monday".

The US Department of Justice is probing whether the German lender violated foreign corruption laws or money laundering laws while raising money for 1MDB, including a $1.2 billion (€1.06 billion) fund raised in 2014 despite concerns about the Malaysian fund's management and financials becoming public, the Wall Street Journal reported, citing unidentified people familiar with the matter.

Deutsche Bank CEO Christian Sewing said he reprimanded those who had a tailor come to the bank's London office.

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Sewing told Handelsblatt the London managers' "behaviour in no way corresponds with our values".

Asked if the incident would have consequences, Sewing said: "If you see it as a outcome that the CEO personally calls his colleagues and talks to them about it, then yes".

He added that the staff members would "not forget" that phone call.

Under Sewing and previous chief executive John Cryan, Deutsche Bank has been struggling to shake off an image of being focused only on relentless growth and big bonuses that it acquired in the years before and after the financial crisis.

Vestia almost went bankrupt in 2012 after suffering 2 billion euros in losses on derivatives it had purchased from ABN Amro, Deutsche Bank and other major investment banks as a hedge against rising interest rates.



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