Deutsche Bank

  1. Deutsche Bank to pay $16.2m to settle US corruption case

    Deutsche Bank logo

    Deutsche Bank has agreed to pay $16.2m (£13.2m) to settle allegations that it hired relatives of foreign government officials to win business.

    The Securities and Exchange Commission (SEC) argued the German bank had recruited poorly qualified relatives of officials in Asia and Russia at their request, violating the Foreign Corrupt Practices Act.

    Deutsche Bank agreed to settle the case without admitting or denying any wrongdoing, the SEC said.

  2. Trump: Deutsche Bank wanted my business!

    US President Donald Trump is awake and tweeting, this time about about Deutsche Bank.

    Now read on...

    View more on twitter
  3. Deutsche's payoffs scrutinised

    deutsche bank logo with people walking past

    On Monday Deutsche Bank made the first of 18,000 job cuts as part of a radical restructuring intended to cut costs and restoring its profitably.

    The German bank also has spent more than €52m on severance pay for senior executives who were fired or left voluntarily over the past 14 months, almost matching its annual pay for the entire management board.

    That's according to the Financial Times which quotes Frankfurt-based headhunter Christine Kuhl, a partner at Odgers Berndtson, saying: "Big severance packages for sacked managers are mad".

  4. Why did Deutsche Bank disappoint the market?

    BBC Radio 5 Live

    Wake Up To Money

    Deutsche Bank office

    Deutsche Bank shares slumped a further 5% yesterday after it published its long-awaited restructuring plan and announced that 18,000 staff would be axed.

    Why did the news disappoint the market?

    “There are a couple of reasons,” Supriya Menon, Senior Multi Asset Strategist at Pictet Asset Management told Wake Up To Money.

    First is "a clear area of risk, having to do with revenue growth," she said.

    The bank has projected a return on assets of about 8% by 2022 but that would suggest that revenue grows by about 3% every year.

    “That just doesn’t seem credible. They haven’t delivered on that recently," she pointed out.

    She also warned that the bank would face difficult market conditions as it goes through its "enormous retrenchment", so it's projection "seemed way too optimistic".

    She added that the market is also questioning the part of the restructuring plan which involves the bank raising more capital. "Will it be enough?" she asked.

  5. Deutsche boss to invest 'substantial' sum in lender's shares

    Christian Sewing

    As we have been reporting, Deutsche Bank staff across the world began packing up their desks today as the first tranche of 18,000 job cuts at the lender commenced.

    But spare a thought for investors in the company. Their shares hit a record low last month after years of poor performance from the bank. They also dropped almost 6% today.

    In a gesture of solidarity, Deutsche Bank boss Christian Sewing said on Monday that he plans to invest a “substantial amount” of his fixed salary in the bank and that he would be “putting his money where his mouth is”.

    Whether this will encourage others to buy the stock, only time will tell.

  6. Deutsche Bank's troubles timeline

    BBC data journalist Daniele Palumbo has prepared this helpful Deutsche Bank timeline...

    Deutsche Bank timeline
  7. Eye-witness account: 'tense mood' at Deutsche Bank in London

    recruitment agency flyer

    BBC reporter Esyllt Carr is at Deutsche Bank's UK headquarters at London Wall. This is her eye-witness report from the scene:

    There was a tense mood outside DB’s London HQ this morning as staff arrived to learn more about the bank’s restructuring plans which it says will lead to to 18,000 jobs being cut globally by 2022.

    They didn’t speak to the many journalists waiting outside, they simply went into the office to wait for more news on how it would affect them and their positions.

    “Good luck”, said one employee to a colleague as they went into the office just before 9am.

    One City worker, who said he had friends working at DB, said they were fearing the worst. “They’ve already started looking for jobs at other banks”, he said.

    Meanwhile an enterprising recruitment agency has been handing out flyers (pictured).