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There was a "mirror trading" scheme involved. Deutsche Bank's Moscow, London, and New York branches laundered $10 billion out of Russia. [159] The Global Laundromat scandal revealed Deutsche Bank's involvement in a vast money-laundering operation over the period 2010–2014. The operation may have involved as much as $80 billion.
Edson Mitchell (1953–2000) was an American investment banker and executive. He served as the head of Deutsche Bank's global markets organization. During his tenure, he transformed the bank into a major and highly profitable player in trading bonds, securities and foreign currencies.
Lippmann worked for Deutsche Bank, as global head of asset-backed securities trading, until he left in April 2010, and was succeeded by Pius Sprenger. [6] [1]In February 2010, Lippmann announced that he would be joining a hedge fund started by Fred Brettschneider, who was formerly Deutsche Bank's head of global markets. [1]
As of September, Christian will spend 15% of his monthly net salary buying the German lender's shares as part of his efforts to revive the bank's profitability. [11] Sewing was the head of Deutsche Bank's audit division during Deutsche Bank's $10 billion money-laundering scandal involving its Moscow operations.
Cryan was appointed co-chief executive officer of Deutsche Bank in June 2015, [8] [9] a position he shared with Jürgen Fitschen until May 2016, when he became sole CEO. [10] On 8 April 2018, Cryan was replaced by Christian Sewing as chief executive at Deutsche Bank. [11] In April 2019, Cryan became a director at X Cyber Group LTD in the UK. [12]
The DWS Group (Formerly: Deutsche Asset Management) commonly referred to as DWS, is a German asset management company. It previously operated as part of Deutsche Bank until 2018 where it became a separate entity through an initial public offering on the Frankfurt Stock Exchange.
Consequently, the acquisition by Deutsche Bank was a windfall to the bank's shareholders, who avoided losing their entire investments. [ citation needed ] In November 1998, Deutsche Bank agreed to purchase Bankers Trust for $10.1 billion; [ 31 ] the purchase was finalized on June 4, 1999.
[41] [6] [7] During their years of co-leadership, Fitschen handled Deutsche Bank's retail bank and German affairs, and also handled the Deutsche Bank's relations with the Berlin government and other German stakeholders. [42] [43] [12] [44] Jain led the investment bank plus asset and wealth management, and was the face of Deutsche Bank ...