The German lender took the sex-trafficking financier on as a client after JPMorgan Chase,his primary bank for roughly 15 years,stopped doing business with him.
Fear and loathing is spreading through the global financial system,with Deutsche Bank the latest giant in the crosshairs. But there are greater points of vulnerability that cause concern.
Credit Suisse will survive but with history as a guide,it should have known better. And as economic conditions worsen,it won’t be the only wealth titan left exposed.
A police raid on Deutsche Bank this week sent shockwaves through the $US30 trillion-plus ESG sector. Everyone should have seen it coming.
Households are confronting the sharpest inflation spike in years,fuelling the case for an early interest rate rise.
The former US president’s showcase hotel in Washington bled millions of dollars during his time in office even as he concealed payments from foreign governments,a US House of Representatives panel said.
Deutsche Bank chief Christian Sewing joined an urgent meeting with a not-unfamiliar message:there was a problem,and billions of dollars were at stake.
Long-time investment bank lawyer Joe Longo has been named the new head of the corporate watchdog,as the government prepares a radical shake-up of the regulator.
There’s no mystery about why a collection of the world’s larger and important banks lined up to provide so much funding and leverage to a character with Bill Hwang’s history.
The indictment against ANZ,Citi and Deutsche bankers was described as invalid,incomprehensible and of “no use to anybody” in court.
ANZ senior executive Richard Moscati among six high-profile bankers who have been charged with criminal cartel activity in an indictment filed by the Commonwealth Director of Public Prosecutions this month.