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☆ Q3 Earnings: Welcome to the ‘show me the money’ quarter
▼ + stars: | 2024-10-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

In what some analysts are calling the “show me the money” quarter, most of the major US tech titans will report earnings during Halloween week. “Tech companies have been spending billions on AI like kids in a candy store,” said David Laut, chief investment officer at Abound Financial. “Now investors want to see what they’re getting for their money.”Earnings season for tech got off to a strong start Wednesday evening when Tesla surprised Wall Street with better-than-expected earnings. The results sent Tesla’s shares surging more than 11% in after-hours trading, potentially setting a positive tone for next week’s parade of tech earnings. But there’s more spooking Wall Street than just tech earnings.

Persons: ”, David Laut, Tesla, Tesla’s, Jim Reid, Dan Ives Organizations: New, New York CNN, Google, Microsoft, Meta, Apple, Nvidia, “ Tech, “, ChatGPT, Reserve, Deutsche, Wedbush Securities Locations: New York, Canada, France

☆ Global markets rise after Biden exit
▼ + stars: | 2024-07-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Global markets made solid gains after President Joe Biden dropped out of the 2024 presidential election Sunday and endorsed Vice President Kamala Harris as the Democratic nominee. European markets were higher, and Asian markets closed mostly lower. But “the fact that Biden endorsed Kamala Harris reduces uncertainty,” said Jay Hatfield, CEO at Infrastructure Capital Advisors. “Markets are increasingly focused on the US presidential election in November,” wrote Deutsche Bank’s Henry Allen in a research note on Monday. Stocks tumbled toward the end of last week as a turbulent election cycle and a global tech outage rocked technology stocks in particular.

Persons: Joe Biden, Kamala Harris, Donald Trump, unwind, Harris, Biden, ”, Jay Hatfield, Trump, ” Hatfield, Deutsche Bank’s Henry Allen, Lyndon Johnson, Stocks Organizations: New, New York CNN — Global, Democratic, Dow, Nasdaq, Trump, Infrastructure Capital Advisors, Deutsche Bank, “, Deutsche Locations: New York

☆ The stock market is having its best election year ever
▼ + stars: | 2024-06-24 | by ( Nicole Goodkind | Matt Egan | ) edition.cnn.com time to read: +9 min

The S&P 500 alone has generated an average return of 7% during presidential election years since 1952, according to LPL Financial. If you limit that to election years in which the incumbent president is running for reelection, the average jumps to 12.2%. Yes, but: Market volatility in an election year tends to pick up in October and there are many months left in this cycle with potential surprises to come. “An autumn pullback fits well time wise with potential downside earnings revisions, make-or-break decision time for the Fed, and election uncertainty. The first round of the French election will be held on June 30, with a second round on July 7.

Persons: Goldman Sachs —, Ed Clissold, Ned Davis, they’re, It’s, Goldman Sachs ’ Scott Rubner, “, ”, Mark Hackett, Scott Chronert, Goldman Sachs, Joe Biden, Donald Trump, Jim Reid, There’s, Emmanuel Macron, Katie Nixon, Chris Isidore ., they’ve, Samantha Murphy Kelly, ChatGPT —, Siri —, OpenAI, Siri, ChatGPT, hasn’t, — Organizations: London CNN — Traders, Investors, White, Ned, Ned Davis Research, Nasdaq, Citigroup, Goldman, Barclays, Deutsche Bank, UBS, Deutsche, Fed, United, Labour Party, Renaissance, Northern Trust Wealth Management, Alaska Airlines, Alaska —, Southwest —, Southwest, Railway Labor, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, Wall, IDC Locations: United States, France, “, Alaska, China

In addition to the $355 million penalty — payback of what the judge deemed “ill-gotten gains” from his spurious financial statements — Trump is required to pay interest on that amount. James’ office calculates that, to date, Trump owes an additional $98.6 million in interest, bringing his total penalty to $453.5 million. Trump used $170 million of the $375 million to pay off a loan on the property. — $60 million, plus interest, from selling the rights to manage a New York City golf course in June 2023. Trump testified that regardless of what his financial statements said, banks did their own due diligence and would’ve qualified him for the loans anyway.

Persons: Donald Trump, “, ”, Arthur Engoron, Letitia James, who’s, Trump, who's, Friday's, what's, Engoron, James ’, Allen Weisselberg, Jeffrey McConney, — Trump, Eric, Donald Trump Jr, Donald Jr, untethered, ” Trump, Christopher Kise, would’ve, James, Engoron’s, Barbara Jones, Michael Cohen, Cohen, —, Forbes, Trump “, ” Engoron, Michael Cohen's Organizations: Republican, Trump, Trump Organization, longtime Trump Organization, TRUMP, New, Deutsche, Trump International Hotel, Waldorf, Bally's Corporation, Trump Organization finance, Division, Democrat Locations: New York, New, Manhattan, Lago, Florida, Miami, Chicago, Washington, New York City, Engoron’s, York, Trump

A New York judge on Friday ordered former President Donald Trump to pay $364 million in damages for fraud he committed by inflating his net worth to obtain favorable treatment from banks and insurers. The blistering 92-page ruling from Judge Arthur Engoron was replete with references to the brazen nature of the misdeeds of Trump, his adult sons and his business organization. Here are nine key quotes from Engoron’s ruling. The frauds found here leap off the page and shock the conscience.”On the reaction of Trump and his adult sons:“Their complete lack of contrition and remorse borders on pathological. Donald Trump is not Bernard Madoff.

Persons: Donald Trump, Judge Arthur Engoron, Trump, Justice Potter Stewart, ”, “, Bernard Madoff, ’, “ Donald Trump, Trump’s, Ivanka Trump, Rosemary, ” Ivanka Trump, fraudsters, Eli Bartov’s, Bartov, “ John Shubin, Mr, Shubin, Robert Unell, Unell, Birney, Donald Trump’s, Whitley Penn, Donald Bender, Mazars, Allen Weisselberg doesn’t, Allen, Weisselberg Organizations: United States Supreme, Trump Organization, ”, Trump, Deutsche, OAG, trifles, Allen Weisselberg’s Locations: York, ”, New York, ’

☆ Can Germany’s sputtering economy be revived in 2024?
▼ + stars: | 2024-02-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +11 min

Europe’s biggest economy shrank last year for the first time since the onset of the Covid-19 pandemic. And the outlook isn’t much brighter: the International Monetary Fund predicts that Germany will be the slowest-growing major economy in 2024, eking out an increase of just 0.5%. “Germany needs a fundamental economic transformation,” Marcel Fratzcher, president of the German Institute for Economic Research in Berlin, told CNN. Carsten Koall/Getty ImagesHomegrown troublesAlongside an external environment that has become more hostile to Germany’s outward-facing economy, the country’s internal political climate has worsened. Businesses such as these, which can find new markets and applications for their know-how, may hold the key to reviving Germany’s moribund economy.

Persons: What’s, ” Marcel Fratzcher, ”, Carsten Brzeski, Jens Schlueter, Constanze Stelzenmuller, Christian Lindner, Olaf Scholz, Robert Habeck, Carsten Koall, Michael Probst, Karl Haeusgen, ” Sebastian Shukla, Chris Stern Organizations: London CNN — Trains, Lufthansa, International Monetary Fund, European Union, European Commission, German Institute for Economic Research, CNN, ING, Brookings Institution, Volkswagen, Biden, Free Democratic Party, Social Democratic Party and, Green Party, Deutsche, LinkedIn, Investors, SAP, chipmaker Infineon, Intel, MAN Energy Solutions, Germany’s Machinery, Equipment Manufacturers Association Locations: Europe’s, Germany, Ukraine, Berlin, Europe, China, Zwickau, United States, Russia, “, Japan, masse, Frankfurt, ”, Hamburg, Jungheinrich, Augsburg, Munich, Esbjerg, Denmark

CNN —Ivanka Trump’s appearance Wednesday was the highly anticipated conclusion to an unprecedented eight days of witness testimony that included Donald Trump and three of his adult children in the civil fraud trial brought by the New York attorney general’s office. Ivanka Trump proposed a change to lower the net worth requirement to $2 billion, in an email Solomon showed in court. Solomon asked Ivanka Trump whether the value of her purchase option was factored into her father’s financial statement. Discussions between Ivanka Trump and Jared KushnerIvanka Trump and her husband Jared Kushner worked in Donald Trump’s White House as senior advisers to the president. In addition to the Trump family, the attorney general’s office called former Trump Org.

Persons: Donald Trump, Trump, Donald Trump Jr, Eric Trump, Ivanka Trump, Louis Solomon, Solomon, Donald Trump’s, ” Ivanka Trump, ”, Jared Kushner Ivanka Trump, Jared Kushner, Kushner, “, they’d, Allen Weisselberg, Jeff McConney –, ” Michael Cohen, Weisselberg, Arthur Engoron, – Engoron, Ivanka, ” Trump Organizations: CNN, New, Trump Organization, Deutsche Bank, Doral, Trump, Deutsche Bank’s, Deutsche, Capital, Post, Trump International, Trump Org, Ivanka Trump, ” Locations: New York, Ivanka, Florida, Doral, Washington

Trump's longtime finance chief, Allen Weisselberg, acknowledged in testimony Tuesday that information in the financial statements wasn't always accurate. The disclaimers say, among other things, that the financial statements aren't audited and that others “might reach different conclusions” about Trump's financial position if they had more information. It’s the first time a bank official has testified in court about the impact Trump’s financial statements had on his ability to obtain loans. Haigh said he reviewed Trump’s financial statements before approving the loans and, at the time, had no reason to doubt their validity. “I assumed that the representations of the assets and liabilities were broadly accurate," Haigh said of Trump’s financial statements.

Persons: — Donald Trump, Trump’s, Nicholas Haigh, ”, Haigh, “, Allen Weisselberg, wasn't, Trump, weren't, Letitia James ’, ” Trump, Jesus M, Suarez, ” Haigh, He's, Arthur Engoron, Engoron, James Organizations: Deutsche Bank, Trump, Trump Organization, Deutsche, Doral, Republican, Democrat Locations: York, Doral , Florida, Chicago, New, Miami, Wabash, Trump, New York

☆ Biocredits Could Help Save the Earth. But a Market Is Some Way Off.
▼ + stars: | 2023-09-05 | by ( Joshua Kirby | ) www.wsj.com time to read: +7 min

Biodiversity credits could be key to funding the conservation of the Earth’s ecosystems, but setting up a functioning market to buy and sell these payment tokens won’t be easy. The World Economic Forum is working on bringing together stakeholders, but admits that a scaled-up market is still some way in the future. It follows the lead of so-called voluntary carbon credits that allow firms to buy credits to offset their own emissions. Those global carbon credit markets are now worth some $2 billion, up from $200 million five years ago, according to environmental-finance data provider Ecosystem Marketplace. “I feel a bit of ‘carbon envy’ when I look at the carbon markets,” Cornell’s Tobin said, noting that biodiversity markets lack a universal metric that can apply to every project, unlike carbon markets where each credit represents one metric ton of carbon dioxide.

Persons: John Tobin, de la Puente, Tobin, don’t, Cornell’s Tobin, ” Tobin, JULIAN HABER, Zoe Balmforth, ‘, ’ ”, Balmforth, ”, ” Nestlé, Nestlé, biocredits, Markus Mueller, ” Mueller, Joshua Kirby, joshua.kirby@wsj.com Organizations: Economic, Paulson Institute, Cornell University, Credit Suisse, Companies, UN, REUTERS, Sustainable Business, Unilever, Deutsche Locations: Australia, Switzerland, biocredits

☆ Rosalind Brewer Steps Down as Walgreens Chief After a Short Tenure
▼ + stars: | 2023-09-01 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +3 min

Walgreens has been shifting away from pharmacy and retail to focus more on health care services, with mixed results. “While the wisdom of this move is debatable, health care is not Ms. Brewer’s forte.”Before joining Walgreens, Ms. Brewer was the chief operating officer of Starbucks and previously served as chief executive of Sam’s Club, a division of Walmart. As Walgreens leans more into the health care business, it faces several hurdles, industry experts said. It is rare for a woman to replace another female chief executive.

Persons: ” Neil Saunders, GlobalData, Brewer, Brewer’s, ”, James Kehoe, “, Walgreens, Stefano Pessina, Graham, Ms, Eli Lilly Organizations: Walgreens, Starbucks, Sam’s, Walmart, Deutsche, Deutsche Bank analysts, Amylin Pharmaceuticals, Guidant Corporation

That was unchanged from the annual rate of inflation in July. Core inflation, which excludes volatile food and energy prices, eased to 5.3%, from 5.5% in July. Food, alcohol, tobacco and services were the biggest drivers of inflation in August, although those prices rose at a slower annual pace than the previous month. Compared with July, energy prices increased by 3.2%, tempering the annual rate of decline to 3.3% in August from 6.1% the previous month. “The main uncertainty moving forward will be how fast and far services inflation rates drop as the weakening [economic] growth momentum will be counteracted by persistently elevated wage inflation,” he wrote.

Persons: ” Marc de Muizon, Muizon, ” Organizations: London CNN —, Deutsche Bank, Reuters, European Central Bank, ECB, Deutsche Locations: Europe

☆ Fed fines Deutsche Bank $186 million
▼ + stars: | 2023-07-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Deutsche Bank has been trying to leave its troubled past behind for years. The Fed found that Deutsche Bank (DB) has made insufficient progress since 2018 to tighten its anti-money laundering controls, improve customer due diligence and ensure compliance with sanctions, among other failures. The Fed had already fined the bank a total of $99 million in 2015 and 2017 over the same issues. Deutsche Bank exited the relationship in 2015. In November, Germany’s financial watchdog BaFin threatened Deutsche Bank with a fine if it failed to take action on money laundering and terrorist financing controls.

Persons: ”, “, BaFin Organizations: London CNN — Deutsche Bank, US Federal Reserve, Deutsche Bank, DB, Fed, Danske Bank, Deutsche, Danske Locations: Danske Bank Estonia, Danske Estonia

☆ GM and Ford are not Tesla’s competitors, says Deutsche Bank’s Emmanuel Rosner
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGM and Ford are not Tesla’s competitors, says Deutsche Bank’s Emmanuel RosnerEmmanuel Rosner, Deutsche Bank lead auto technology analyst, joins 'Squawk on the Street' to discuss why automakers are positive about the industry, expectations from second-quarter earnings, and the overall auto industry.

Persons: Deutsche Bank’s Emmanuel Rosner Emmanuel Rosner Organizations: GM, Ford, Deutsche, Deutsche Bank

☆ Greenpeace activists climb Deutsche Bank HQ in climate protest
▼ + stars: | 2023-06-14 | by ( ) edition.cnn.com time to read: +2 min

Greenpeace activists scaled Deutsche Bank’s headquarters in Frankfurt Wednesday and strung up a large yellow banner to protest against the climate investment policies of the German lender and its asset management company DWS. The action came a day ahead of the annual shareholder meeting of DWS, which is mostly owned by Deutsche Bank and has drawn attention from activists and regulators over allegations it misled investors about “green” investments. Deutsche Bank (DB) said sustainability and climate protection were “strategic priorities,” and that it supports DWS in the development of its sustainability policies and standards. The German-language Greenpeace banner was unfurled shortly after 6 a.m. local time (midnight ET) and stretched across part of the glass facade on the lower section of Deutsche Bank’s twin office towers. Mauricio Vargas, a Greenpeace finance expert who was standing outside Deutsche Bank’s headquarters, said: “DWS’s scandal is Deutsche Bank’s scandal.” He plans to address shareholders Thursday.

Persons: DWS, Stefan Hoops, Mauricio Vargas, “ Organizations: Greenpeace, Deutsche, Deutsche Bank, DB, Force Locations: Frankfurt

☆ Midwestern housing market looks hot while sun belt region stays cold, says Zillow’s Skylar Olsen
▼ + stars: | 2023-06-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMidwestern housing market looks hot while sun belt region stays cold, says Zillow’s Skylar OlsenZillow’s Skylar Olsen and Deutsche Bank’s Joe Ahlersmeyer join 'Power Lunch' to discuss the U.S. housing market with a 7 percent mortgage rate putting pressure on the sector.

Persons: Zillow’s Skylar Olsen Zillow’s Skylar Olsen, Joe Ahlersmeyer Organizations: Deutsche

☆ Deutsche Bank to pay $75 mln to settle lawsuit by Epstein accusers
▼ + stars: | 2023-05-18 | by ( ) edition.cnn.com time to read: +3 min

Deutsche Bank AG has agreed to pay $75 million to settle a lawsuit by women who say they were abused by the late financier Jeffrey Epstein, and accused the German bank of facilitating his sex trafficking. Epstein had been a Deutsche Bank client from 2013 to 2018. The Deutsche Bank case was led by an unidentified plaintiff, known as Jane Doe 1, who said Epstein sexually abused her from 2003 to 2018. Last September, Deutsche Bank agreed to pay $26.25 million to settle a US shareholder lawsuit accusing the bank of lax oversight while doing business with risky, ultra-rich clients like Epstein. The case is Jane Doe 1 v Deutsche Bank AG et al, U.S. District Court, Southern District of New York, No.

☆ Barclays and Deutsche profits defy banking jitters
▼ + stars: | 2023-04-27 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

Deutsche Bank (DB) gained 2.6%. Deutsche Bank’s shares plunged as much as 14.5% during the March 24 trading session. Deutsche Bank’s profit reached its highest in a decade, vindicating the once-struggling lender’s turnaround plan, launched in 2019. “In the first quarter, we again proved the strength and resilience of Deutsche Bank in challenging conditions,” chief financial officer James von Moltke said in a statement. Barclays and Deutsche Bank’s results contrast with the troubles at First Republic Bank in the United States.

☆ Analysis: Bearish fundamentals, buoyant charts complicate outlook for US stocks
▼ + stars: | 2023-04-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Technical indicators such as equity price movement largely show stocks are poised to continue a rally that has seen the S&P 500 climb 8% year-to-date, analysts who track them said. TECHNICALLY SPEAKINGThe S&P 500 (.SPX) has traded in a 9.7 percentage point range year-to-date, its narrowest range for comparable periods since 2017. Johnson, who has a year-end S&P 500 target of 4,625, is encouraged by the reversals in downtrends for many U.S. stock indexes. The S&P 500 has traded higher 83% of the time for the full year, returning an average 13.73%, when it hasn't dropped below the preceding year’s December low in the first quarter, a Piper Sandler analysis showed. The S&P 500 is trading at about 18 times 12-month forward earnings estimates compared to its long-term average P/E of 15.6 times, according to Refinitiv Datastream.

☆ Deutsche Bank Selloff Focuses Attention on Credit-Default Swap Market
▼ + stars: | 2023-03-29 | by ( Anna Hirtenstein | Patricia Kowsmann | ) www.wsj.com time to read: 1 min

Last week’s selloff in Deutsche Bank AG shares and bonds has drawn attention from regulators—and sparked broad debate about whether credit-default swaps caused the market stress, or simply reflected investor unease. The instruments are derivatives that effectively insure the holder against a corporate default. The cost of insuring Deutsche Bank’s debt against default in this way surged late last week, helping fuel an 8.5% decline in the bank’s Frankfurt-traded stock on Friday. The episode had echoes of a social-media frenzy around Credit Suisse Group AG last fall, in which default-swap pricing also fed into a broader loss of confidence.

☆ Analysis-Investors cautious on U.S. stocks, even though Fed hikes may soon end
▼ + stars: | 2023-03-23 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Stocks fell on Wednesday, with the benchmark S&P 500 closing down 1.65% after swinging between gains and losses during Fed Chairman Jerome Powell’s press conference following the meeting. Futures markets are now pricing a Fed funds rate of around 4.25% by year-end, compared with the range of 4.75% to 5% that took effect on Wednesday. A drop in Treasury yields from recent highs has also given a tailwind to stocks, especially to big tech and growth names that are heavily weighted in the S&P 500. Corporate profits are another potential trouble spot, with S&P 500 earnings expected to post year-over-year declines in the first and second quarters after falling 3.2% in the fourth quarter of 2022, according to Refinitiv IBES. “I don’t think the market is going off to the races,” said James Ragan, director of wealth management research at D.A.

☆ Deutsche Bank Names New Compliance Chief as Part of Reshuffle
▼ + stars: | 2023-01-19 | by ( Mengqi Sun | ) www.wsj.com time to read: +3 min

Laura Padovani will join Deutsche Bank on April 1 as its group chief compliance officer and head of compliance, according to a memo seen by The Wall Street Journal. Ms. Padovani spent seven years at Barclays, most recently as its compliance chief, and 20 years at American Express. Mr. Tagné, who has spent more than six years at Deutsche Bank, will also take on the role of deputy chief compliance officer, according to the memo. Germany’s top financial watchdog, BaFin, in November threatened to fine Deutsche Bank if it didn’t implement controls against money laundering by mid-2023. Deutsche Bank was fined $150 million in 2020 by the New York Department of Financial Services for failing to properly monitor its dealings with Epstein.

☆ Valuing Michael Klein is a fascinating sideshow
▼ + stars: | 2023-01-13 | by ( Liam Proud | ) www.reuters.com time to read: +5 min

The two sides have discussed a deal where Credit Suisse would acquire M. Klein & Company with Klein getting a stake in First Boston. Putting a price on M. Klein & Co is hard from the outside because its accounts aren’t publicly available. The size of that holding depends therefore on the relative worth of First Boston and M. Klein & Co. A 9% stake would then be worth $320 million, implying a huge payday for M. Klein & Co shareholders. If Klein makes money, Credit Suisse shareholders would do very well too.

☆ Who will be Wall Street’s un-American idol?
▼ + stars: | 2022-12-16 | by ( John Foley | ) www.reuters.com time to read: +8 min

Europeans have been losing the battle against Wall Street’s cozy club for a decade. Deutsche Bank has done the former. BNP has made smaller steps, buying Bank of America’s prime broking business in 2008, then Deutsche Bank’s in 2019. Even with the best intentions, European banks must contend with their own regulators, which affects their ability to take risk elsewhere. JPMorgan, Bank of America, Citigroup, Morgan Stanley and Goldman Sachs together took the top five slots for debt capital markets and merger advisory, as they also did in 2021.

☆ Epstein accusers sue JP Morgan and Deutsche Bank, claiming banks benefited from sex trafficking operation
▼ + stars: | 2022-11-25 | by ( Samantha Beech | ) edition.cnn.com time to read: +3 min

New York CNN —Two anonymous women who accuse the late Jeffrey Epstein of sexual abuse have filed separate civil lawsuits against JP Morgan Chase & Co. and Deutsche Bank AG, claiming the big banks enabled and benefitted financially from Epstein’s alleged sex trafficking operation. The class action suits were filed in part under a new law in New York, which allows adult sexual abuse survivors to sue their alleged abusers, even if the statute of limitations has expired. Specifically, Deutsche Bank chose facilitating a sex trafficking operation in order to churn profits,” the suit claims. The suit alleges Deutsche Bank ignored red flags including payments to numerous young women and large withdrawals of cash. In 2020, New York regulators fined Deutsche Bank $150 million and slammed the lender for “mistakes and sloppiness” in its relationship with Epstein.

☆ German prosecutors search Deutsche Bank HQ in cum-ex probe
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

The headquarters of Germany's Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/FilesBERLIN, Oct 18 (Reuters) - German prosecutors have searched the headquarters of Deutsche Bank (DBKGn.DE) in connection with an ongoing investigation of the multibillion-euro tax fraud scheme known as "cum-ex", Deutsche Bank said on Tuesday. Deutsche is one of many banks that prosecutors have searched in connection with the tax scheme that thrived more than a decade ago. Germany's largest lender, under Chief Executive Christian Sewing, has been trying to clean up the bank's reputation since he assumed the helm in 2018. Reuters has reported Deutsche Bank’s involvement in the scheme between 2006 and 2011, when bankers discussed the "reputation risks" of the matter.

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