Deutsche Bank CEO Christian Sewing says he reprimanded executives for having expensive custom suits tailored the day that mass layoffs hit the troubled bank’s offices in London, New York and Tokyo. - CNBC
When asked if there would be any personnel consequences, Sewing said only that he called the "colleagues" involved and discussed the incident with them.
"I assume in any case that the two colleagues will not forget my telephone call," Sewing said, suggesting he gave them a tongue-lashing.that it was shutting down its global stock trading business and slashing 18,000 positions in a massive restructuring to improve the troubled bank's profitability. Deutsche once sought to compete with large American banks on Wall Street, a strategy that began with its $10 billion acquisition of Bankers Trust in the late 1990s.
But the German bank's aggressive and ambitious strategy to become a global power house ultimately backfired. Deutsche has been severely weakened by a series of costly scandals related to business practices in the run-up to the 2008 financial crisis as well as other alleged wrongdoing.with the U.S. Justice Department in January 2017 for allegedly misleading investors in the sale of mortgage-backed securities.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
In a scene reminiscent of the financial crisis, axed Deutsche Bank workers leave with belongingsDeutsche Bank announced a massive restructuring plan earlier this week, including the cut of more than 18,000 job cuts. Here's what this could mean for the market at large.
Baca lebih lajut »
Trump invokes social media platforms, 2020 Dems and Deutsche Bank in Twitter tearTrump went on a multi-subject Twitter tear ahead of the White House’s planned social media summit, firing off more than a dozen posts that included swipes at his re-election rivals and reporting on his finances
Baca lebih lajut »
U.S. probes Deutsche Bank's dealings with Malaysia's 1MDB: WSJThe U.S. Justice Department is investigating whether Deutsche Bank AG violated f...
Baca lebih lajut »
Deutsche Bank is set to fire 18,000 employees around the world — and the layoffs may look totally different depending on where they happenLaid-off employees in the US typically pack up and leave immediately. Europe gives workers a few weeks to finish up projects.
Baca lebih lajut »
Deutsche Bank’s retreat ends European hopes of conquering Wall StreetIn 2007 Deutsche Bank was snapping at the heels of Goldman Sachs. Today it languishes in the investment-banking league tables
Baca lebih lajut »