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☆ German regulator to send special monitor to Deutsche Bank, Handelsblatt reports
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +1 min

The logo of Germany's Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside of an office building of the BaFin in Bonn, Germany, April 15, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsBERLIN, Oct 1 (Reuters) - German financial regulator BaFin will send a special monitor to Deutsche Bank (DBKGn.DE) following problems at its Postbank unit, German daily Handelsblatt reported on Sunday citing sources close to the matter. Both BaFin and Deutsche Bank declined to comment. The issues at Postbank included disruptions in online offerings, difficulty in reaching customer service and long processing times, BaFin has said. BaFin said two weeks ago it would "take relevant supervisory measures if appropriate".

Persons: Wolfgang Rattay, BaFin, Maria Martinez, Hugh Lawson Organizations: Federal Financial, Authority, REUTERS, Rights, Deutsche Bank, Thomson Locations: Bonn, Germany

☆ Volkswagen's Trinity model to be built in Zwickau, Handelsblatt reports
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Buzz, a fresh take on the iconic vehicle of the Volkswagen brand, during its world premiere in Paris, France, March 9, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsCompanies Volkswagen AG FollowSept 29 (Reuters) - Volkswagen (VOWG_p.DE) plans to build its Trinity electric vehicles (EV) at its factory in Zwickau, the German daily Handelsblatt reported on Friday, citing several company sources. The decision on the location for the prestige EV will be discussed at the Volkswagen supervisory board meeting on Friday, Handelsblatt reported. A spokesperson for the German carmaker declined to comment on the report. The Trinity electric car, which is to be based on the new SSP platform, was supposed to be launched in 2026.

Persons: Benoit Tessier, Handelsblatt, Oliver Blume, Christina Amann, Amir Orusov, Miranda Murray, Rachel More Organizations: VW, Volkswagen, REUTERS, Trinity, Thomson Locations: Paris, France, Zwickau, Wolfsburg

☆ Mercedes applies for tax relief for projects at two U.S. plants
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Elijah Nouvelage/File Photo Acquire Licensing RightsCompanies Mercedes Benz Group AG FollowBERLIN, Sept 25 (Reuters) - German carmaker Mercedes-Benz (MBGn.DE) has applied for tax breaks for potential projects at two of its U.S. plants under the Inflation Reduction Act (IRA), a company spokesperson said on Monday. "We have decided to participate in the application process for production-related tax relief" under the IRA for the plants in Alabama and South Carolina, according to the spokesperson. A final decision is expected later this year or early next year, Handelsblatt reported. Mercedes did not want to comment on the production plan for the electric GLS. Reporting by Ilona Wissenbach, Writing by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Elijah Nouvelage, Mercedes, Handelsblatt, Ilona Wissenbach, Miranda Murray, Friederike Heine Our Organizations: Benz, REUTERS, Companies Mercedes Benz Group, Thomson Locations: Woodstock , Alabama, U.S, Alabama, South Carolina, United States

☆ Commerzbank shares fall after report on strategy review
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsFRANKFURT, Sept 22 (Reuters) - Shares of Commerzbank (CBKG.DE) were down 3.4% late on Friday after a German newspaper reported details of the lender's new strategy plans to be announced in November. Shares of the bank were down by only around 0.4% before publication of the report. It plans to announce its strategy review on Nov. 8. Like many banks, Commerzbank has been benefiting from a rise in interest rates and the income that generates. Reuters GraphicsThe bank's chief executive Manfred Knof said this week that the main focus of the new strategy would be growth in its customer business.

Persons: DAX, Kai Pfaffenbach, Commerzbank, Manfred Knof, Bettina Orlopp, Tom Sims, Rachel More, Friederike Heine, Kirsten Donovan Organizations: REUTERS, Rights, Thomson Locations: Frankfurt, Germany, Commerzbank

☆ Germany needs structural change to prevent a shift to the right, Commerzbank CEO says
▼ + stars: | 2023-09-22 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

The sun sets behind the lignite-fired power plant of Boxberg on August 18, 2023 in Neuliebel, Germany. Florian Gaertner | Photothek | Getty ImagesGermany needs to implement structural changes if it wants to prevent a political shift to the right, Commerzbank CEO Manfred Knof told CNBC at the Handelsblatt Banking Summit 2023. Knof also said Germany's small-to-medium-sized companies, known as the Mittelstand, were reluctant to invest in their own country because of the structural issues in Europe's largest economy. "We need more activities and ... [a] better framework for the German SMEs to invest in this country," he added. "A lot of family-owned companies ... have very operational plans to relocate," Russwurm said, adding that the current business conditions in Germany had created a "cocktail" of obstacles for companies.

Persons: Florian Gaertner, Manfred Knof, Knof, Siegfried Russwurm, CNBC's Annette Weisbach, Russwurm Organizations: Photothek, Getty, CNBC, Handelsblatt, Federal Ministry for Economic Affairs, Germany, German Industry Federation Locations: Boxberg, Neuliebel, Germany, Bavaria, Europe's

☆ Germany will become the sick man of Europe without change, Deutsche Bank CEO says
▼ + stars: | 2023-09-20 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Afp Contributor | Dpa | Getty ImagesDeutsche Bank CEO Christian Sewing said Germany will become the sick man of Europe if "structural issues" are not addressed immediately. "We are not the sick man of Europe," Sewing said in his keynote address at the Handelsblatt Banken Summit 2023 on Wednesday, "but it is also true that there are structural weaknesses that hold back our economy and prevent it from developing its great potential." "We will become the sick man of Europe if we do not address these structural issues now," he added. The Deutsche Bank CEO said that the biggest task lies with banks, whose roles are changing in the current macroeconomic climate. This is a great responsibility, but also a great opportunity to create new trust," Sewing said.

Persons: Getty Images Deutsche Bank CEO Christian Sewing Organizations: Dpa, Getty Images Deutsche Bank CEO Christian, Deutsche Bank CEO Locations: Frankfurt, Afp, Germany, Europe

But speaking on Wednesday, the last day before the ECB's self-imposed quiet period, the Dutch, French, German and Slovak central bank chiefs all said the Governing Council's decision was still open. France's Francois Villeroy de Galhau hinted that a fresh rate hike could still come at a later date and argued that the slowdown is not a recession and that the ECB needed to persevere in its fight with inflation. Slovakia's Peter Kazimir, an outspoken policy hawk, was more explicit, arguing that another hike was still needed to tame inflation. He said the ECB could delay a rate rise to one of its autumn meetings or pull the trigger next week. "It would be wrong to bet on a rapid decrease in interest rates after the peak," Nagel told German business daily Handelsblatt.

Persons: Nagel, France's Francois Villeroy de Galhau, Peter Kazimir, Kazimir, Klaas Knot, Bundesbank, Joachim Nagel, " Nagel, Robert Holzmann, Mario Centeno, Akanksha Khushi, Catherine Evans Organizations: Central Bank, ECB, Bloomberg, Reuters Global Markets, Thomson Locations: FRANKFURT, PARIS, Slovak

☆ Germany Forges Pact for Leopard 2 Successor in Snub to Paris - Handelsblatt
▼ + stars: | 2023-09-06 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

BERLIN (Reuters) - Germany has signed agreements with Italy, Spain and Sweden on the development of a successor to the Leopard 2 tank, German business daily Handelsblatt reported on Wednesday. The initiative is to take place under the leadership of Krauss-Maffei Wegmann (KMW) and Rheinmetall, the German arms makers building the Leopard 2, Handelsblatt reported, citing unnamed industry and political sources. The German defence ministry did not immediately respond to a request for comment. The defence ministry in Paris and the office of President Emmanuel Macron did not immediately respond to requests for comment. It cited French government sources as saying the topic would be raised at Franco-German government consultations scheduled for the start of October.

Persons: French Leclerc, Maffei, Handelsblatt, Sweden's, Italy's Leonardo, Emmanuel Macron, Friederike Heine, Sabine Siebold, Michel Rose, Andrew Cawthorne, Alison Williams Organizations: BERLIN, Krauss, Rheinmetall, European Defence Fund, Sweden's Saab, Franco Locations: Germany, Italy, Spain, Sweden, France, Berlin, Franco, French, Spanish, Europe, U.S, Africa, Russia, Paris

☆ Germany forges pact for Leopard 2 successor in snub to Paris, Handelsblatt reports
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +3 min

BERLIN, Sept 6 (Reuters) - Germany has signed agreements with Italy, Spain and Sweden on the development of a successor to the Leopard 2 tank, German business daily Handelsblatt reported on Wednesday. The German defence ministry did not immediately respond to a request for comment. The delays to the proposed Franco-German project have strained ties already tested by differences over energy topics and the question to what extent Europe should become independent from the U.S. in its security policy. The defence ministry in Paris and the office of President Emmanuel Macron did not immediately respond to requests for comment. It cited French government sources as saying the topic would be raised at Franco-German government consultations scheduled for the start of October.

Persons: French Leclerc, Maffei, Handelsblatt, Sweden's, Italy's Leonardo, Emmanuel Macron, Friederike Heine, Sabine Siebold, Michel Rose, Andrew Cawthorne, Alison Williams Organizations: Krauss, Rheinmetall, European Defence Fund, Sweden's Saab, Franco, Thomson Locations: Germany, Italy, Spain, Sweden, France, Berlin, Franco, French, Spanish, Europe, U.S, Africa, Russia, Paris

☆ Factbox: Scrutiny of iris-scanning crypto project Worldcoin grows
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

Worldcoin has drawn criticism from privacy campaigners over its data collection. It has said the biometric data is either deleted or stored in encrypted form, and that it is "committed" to working with regulators. CNIL had previously said it was aware of the Worldcoin project and that the legality of its biometric data collection "seems questionable". GERMANYA German data watchdog has been investigating Worldcoin since late last year due to concerns over its large-scale processing of sensitive biometric data, it said. PORTUGALPortugal's data regulator, the CNPD, has inspected Worldcoin's local data collection operation and been in contact with the Bavarian data protection authority in Germany, a spokesperson said.

Persons: Annegret, Sam Altman, Altman, Worldcoin, CNIL, Elizabeth Howcroft, Tom Wilson, John Stonestreet Organizations: REUTERS, Agencia, Informacion Publica, Commissioner's, Communications Authority of, Data, Thomson Locations: cryptocurrency, Berlin, Germany, ARGENTINA, Argentina, Informacion, BRITAIN, FRANCE, Worldcoin's, GERMANY, Handelsblatt, KENYA, Kenya, Communications Authority of Kenya, PORTUGAL

☆ Tesla says two ex-employees behind May data breach
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

A view shows the Tesla logo on the hood of a car in Oslo, Norway November 10, 2022. REUTERS/Victoria Klesty/file photo Acquire Licensing RightsCompanies Tesla Inc FollowAug 21 (Reuters) - Two former Tesla (TSLA.O) employees were behind a data breach that compromised personal information of more than 75,000 people including staff, the electric carmaker said in a legal disclosure. Data exposed by the breach was leaked to German media outlet Handelsblatt, Steven Elentukh, Tesla's data privacy officer, said in a submission to Maine's attorney general office. At the time, Tesla identified the employees who leaked the data, filed lawsuits against them and seized their devices, the company said. This Tesla breach comes after Reuters reported in April that groups of Tesla employees privately shared via internal messaging systems customer information, including videos and images recorded through car cameras.

Persons: Victoria Klesty, Tesla, Steven Elentukh, Handelsblatt, Zaheer Kachwala, Maju Samuel Organizations: REUTERS, Companies, Reuters, Thomson Locations: Oslo, Norway, Victoria, United States, Bengaluru

☆ Tesla's massive data breach in May affected more than 75,000 people, carmaker says
▼ + stars: | 2023-08-20 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

A data breach at Tesla led to the leak of 75,735 people's personal information. German publication Handelsblatt reported in May that it had obtained confidential Tesla information. The information included names, addresses, cell phone numbers, and email addresses. A massive data breach at Tesla leaked the personal information of more than 75,000 people and was the result of "insider wrongdoing," the carmaker said. The outlet said it had spent months examining the data, which included over 23,000 files from 2015 to 2022.

Persons: Tesla, Elon Organizations: Tesla Locations: Maine

☆ Tesla begins notifying workers who were affected by data breach
▼ + stars: | 2023-08-19 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +1 min

New York CNN —Tesla has begun notifying current and former employees whose information was included in a confidential data breach in May. In a notice posted on the Maine Attorney General’s website on Friday, Tesla (TSLA) said an investigation had found “two former Tesla (TSLA) employees misappropriated the information in violation of Tesla (TSLA)’s IT security and data protection policies” and that the electric automaker had since filed lawsuits against them. “These lawsuits resulted in the seizure of the former employees’ electronic devices that were believed to have contained the Tesla information,” Tesla said. Tesla emphasized that it had not detected any misuse of personal data, but has offered complimentary membership to Experian IdentityWorks’ credit monitoring and identity theft service. The data breach affected 75,735 people, and involved Social Security numbers, names and addresses, according to Maine Attorney’s General Office.

Persons: New York CNN — Tesla, ” Tesla, “, Tesla, Experian Organizations: New, New York CNN, Maine Attorney, Maine Attorney’s, Office, CNN Locations: New York, Maine

☆ China targeting German tech 'through back door' with licences: report
▼ + stars: | 2023-08-10 | by ( ) www.cnbc.com time to read: +1 min

(Photo by John MACDOUGALL / AFP) (Photo by JOHN MACDOUGALL/AFP via Getty Images)China is going after licences to boost its access to German technology as investment regulation makes company acquisitions in the sector increasingly difficult, the Handelsblatt newspaper reported on Wednesday, citing a study. The study conducted by the IW economic institute, analysing Bundesbank data on behalf of the newspaper, found German licence revenues from China more than tripled in 2022 compared to 2014. Compared with 2020, the increase was about half. "There is a clear early indication that Chinese companies are looking for a new way to get access to German technology," said Juergen Matthes, head of IW's global and regional markets research unit. Tech licences are one way for China to try to get in "through the back door", he told Reuters.

Persons: John MACDOUGALL, JOHN MACDOUGALL, Juergen Matthes Organizations: AFP, Getty Images, Tech, Reuters Locations: Berlin, Germany, China, Russia

☆ China targeting German tech 'through back door' with licences - report
▼ + stars: | 2023-08-09 | by ( Reinhard Becker | ) www.reuters.com time to read: +2 min

The flags of Germany and China are seen ahead of a meeting between German Chancellor Olaf Scholz and Chinese Premier Li Qiang in Berlin, Germany, June 19, 2023. REUTERS/Fabrizio BenschBERLIN, Aug 9 (Reuters) - China is going after licences to boost its access to German technology as investment regulation makes company acquisitions in the sector increasingly difficult, the Handelsblatt newspaper reported on Wednesday, citing a study. Tech licences are one way for China to try to get in "through the back door", he told Reuters. As a result, direct investments and takeover bids by Chinese companies have attracted scrutiny in Berlin in recent months. Through licensing agreements, Chinese companies can gain legal permission to use German technology.

Persons: Olaf Scholz, Li Qiang, Fabrizio Bensch BERLIN, Juergen Matthes, China's Cosco, Rachel More, Kirsti Knolle, Sharon Singleton Organizations: REUTERS, Tech, Reuters, Thomson Locations: Germany, China, Berlin, Russia, Hamburg

☆ An arms dealer says he sold 49 secondhand Leopard 1 tanks to an undisclosed EU country to send to Ukraine
▼ + stars: | 2023-08-09 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

An arms dealer said he sold 49 Leopard 1 tanks to an unnamed EU country to send to Ukraine. German newspaper Handelsblatt, meanwhile, reported that the Leopard 1 tanks were bought by German arms maker Rheinmetall for use in Ukraine, and that the deal involved 50 tanks. Ukraine began receiving deliveries of Leopard tanks from its allies in February 2023, after months of asking for advanced armored vehicles. Older tanks, once discarded as obsolete, are now in high demand, The Guardian reported, given battlefield needs. Experts say that the West's hesitancy to send tanks to Ukraine gave Russia the time to build up its defenses.

Persons: Freddy Versluys, Versluys, Handelsblatt, Volodymyr Zelenskyy Organizations: Handelsblatt, Rheinmetall, Service, OIP, Systems, Guardian, Leopard, Reuters, Ukraine, Russian, Kiel Institute Locations: Ukraine, Wall, Silicon, Belgium, Germany, Russia

The German-made Leopards were at the centre of a public spat earlier this year after Belgian Defence Minister Ludivine Dedonder said the government had explored buying back tanks to send to Ukraine but had been quoted unreasonable prices. Freddy Versluys, CEO of defence company OIP Land Systems, bought the tanks from the Belgian government more than five years ago. The German Defence Ministry had no immediate comment. Several of Kyiv's Western allies agreed earlier this year to send modern Leopard 2 tanks to Ukraine and also to send older Leopard 1 models. A spokesperson for the Belgian defence ministry declined to comment on the sale of the tanks.

Persons: Freddy Versluys, Read, Ludivine Dedonder, Germany's, Versluys, Krauss, Andrew Gray, Christoph Steitz, Sabine Siebold, Jonathan Oatis, Alex Richardson Organizations: OIP, Systems, Belgian, Leopards, Belgian Defence, Reuters, Rheinmetall, LinkedIn, NATO, German Defence Ministry, Maffei, Thomson Locations: Belgian, Ukraine, Wallonia, Germany, Tournais, Belgium, BRUSSELS, Vilnius

☆ German regulator probes Worldcoin crypto currency - Handelsblatt
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: 1 min

Stickers handed out to people who signed up for WorldCoin are seen at a sign-up site in Shoreditch, East London, Britain July 24, 2023. REUTERS/Elizabeth Howcroft/File PhotoBERLIN, Aug 8 (Reuters) - Germany's financial regulator Bafin is investigating the digital currency Worldcoin, German business daily Handelsblatt reported on Tuesday. "If a company turns to the German market without the necessary permission, for example with a website or app in German, we investigate it," a spokesperson was cited as saying. Worldcoin did not immediately respond to a request for comment. Writing by Friederike Heine, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Howcroft, Worldcoin, Friederike Heine, Rachel More Organizations: REUTERS, Thomson Locations: Shoreditch, East London, Britain

☆ TSMC to decide in favour of German factory on Tuesday - Handelsblatt
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. REUTERS/Ann Wang/File PhotoBERLIN, Aug 7 (Reuters) - Taiwanese semiconductor manufacturer TSMC's (2330.TW) board of directors will decide in favour of building a factory in the German city of Dresden, the Handelsblatt daily reported on Monday, citing government sources. The German government will support the construction of the factory with 5 billion euros ($5.49 billion), according to the sources. TSMC, the world's largest contract chipmaker, has been in talks with the German state of Saxony since 2021 about building a fabrication plant, or "fab", in Dresden. It will operate the factory in a joint venture with partners Bosch (ROBG.UL), Infineon (IFXGn.DE) and NXP (NXPSM.UL), the sources told Handelsblatt.

Persons: Ann Wang, Bosch, Handelsblatt, Miranda Murray, Friederike Heine Our Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Infineon, European, Intel, Thomson Locations: Hsinchu, Taiwan, German, Dresden, Saxony, Berlin, Europe, Brussels

☆ JPMorgan to expand online bank Chase to Germany, EU - Handelsblatt
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, July 21 (Reuters) - JPMorgan (JPM.N) will expand its online bank Chase to Germany and other European Union countries, CEO Jamie Dimon told German newspaper Handelsblatt, a move that increases competition for European rivals in a crowded market. Reuters has reported preparations for the move, but the CEO's comments to Handelsblatt published on Friday mark the first official confirmation. "It has always been clear to us that we want to introduce Chase not only in the UK, but also in Germany and other European countries," Dimon was quoted as saying. "In Germany, 'Chase' is not yet so well known, but worldwide it is a strong brand. We are also a trustworthy bank with a strong balance sheet - and private customers know that," he was quoted as saying.

Persons: Jamie Dimon, Handelsblatt, Chase, Dimon, Tom Sims, Rachel More, Christian Schmollinger Organizations: JPMorgan, Chase, Union, Reuters, Reuters Graphics JPMorgan, European Union, Deutsche Bank, Thomson Locations: FRANKFURT, Germany, United States, Frankfurt

☆ JPMorgan to expand online bank Chase to Germany, EU, Handelsblatt reports
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

☆ Fact Check-Handelsblatt cover of cartoon Volodymyr Zelenskiy reaching toward NATO door is fake
▼ + stars: | 2023-07-14 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A fabricated German newspaper cover featuring a cartoon of Ukrainian President Volodymyr Zelenskiy reaching toward a door that is out of his reach and marked with a NATO emblem is circulating online. The door is attached to a stick which, in turn, is attached to a band around Zelenskiy’s head, making the door out of reach. Sebastian Matthes, editor-in-chief of Handelsblatt, told Reuters that the image shows a fake cover. The front cover circulating online cannot be seen when conducting a search via the newspaper’s social media channels (www.facebook.com/handelsblatt), (twitter.com/handelsblatt/), (here). The fabricated cover began circulating as Zelenskiy attended a NATO summit in Vilnius, Lithuania, this week (here).

Persons: Volodymyr Zelenskiy, Jens Stoltenberg, “, Sebastian Matthes, Handelsblatt, Zelenskiy, Read Organizations: NATO, Reuters Locations: Vilnius, Lithuania

☆ Julius Baer wants to double assets under management - Handelsblatt
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

ZURICH, July 10 (Reuters) - Swiss bank Julius Baer (BAER.S) can double its assets under management to 1 trillion Swiss francs ($1.12 trillion), CEO Philipp Rickenbacher said in an interview with German daily Handelsblatt on Monday. Achieving the goal would mean a massive increase from the 429 billion francs in assets that Julius Baer currently manages, but it is possible, the daily reported, adding that Rickenbacher declined to give a timeline on when the target could be achieved. "But we are in growth mode and such ambitions are not unrealistic," he said, adding that attracting former Credit Suisse clients will take time. "Perhaps the market has overestimated the speed of the shifts," Rickenbacher said. ($1 = 0.8912 Swiss francs)Reporting by John Revill; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Julius Baer, Philipp Rickenbacher, Rickenbacher, John Revill, Sherry Jacob, Phillips Organizations: Credit Suisse, Silicon Valley Bank, Thomson Locations: ZURICH, Swiss, Silicon

A lawyer for Woehrmann said DWS' internal investigations "did not reveal any evidence of misconduct on the part of my client". A spokesperson for prosecutors in Frankfurt, where DWS is headquartered, would only say an individual was targeted but would not name the person. DWS declined to comment on Woehrmann, but has said that it stands by its financial disclosures and fund prospectuses and is cooperating with investigators. At present, we cannot estimate when and how the proceeding of the Frankfurt Public Prosecutor’s Office will be concluded," DWS said. Woehrmann resigned as CEO of DWS last year after German prosecutors raided the offices of DWS and Deutsche Bank in Frankfurt over the allegations.

Persons: DWS's, Asoka Woehrmann, Patrizia, Woehrmann, DWS, BaFin, Matthias Inverardi, Miranda Murray, Sabine Wollrab, Susan Fenton, Louise Heavens Organizations: Deutsche Bank, Frankfurt Public, U.S . Securities, Exchange Commission, Thomson Locations: FRANKFURT, Frankfurt

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