|Bid||0.00 x 1000|
|Ask||0.00 x 1000|
|Day's Range||24.04 - 24.16|
|52 Week Range||21.65 - 29.42|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.75%|
May.16 -- U.S. regulators are said to have warned Deutsche Bank senior executives that they must act more urgently to fix lapses described in a series of settlements with the Federal Reserve. Bloomberg’s Steven Arons reports on "Bloomberg Markets: European Close."
May.11 -- Bloomberg’s Jason Kelly discusses Deutsche Bank's future plans and who may benefit from layoffs. He speaks with Alix Steel and David Westin on "Bloomberg Daybreak: Americas."
President Donald Trump’s latest financial disclosure form reports liabilities to banks and financial services firms of between $356.15 million and $480.35 million, including up to $175 million to Deutsche Bank U.S. and $150 million to Ladder Capital, a listed real estate investment trust. Robert Mueller, the special counsel heading the federal inquiry probing alleged Russian interference in the 2016 U.S. presidential race, subpoenaed records regarding Trump’s loans in December 2017, as well information on former Trump campaign chairman Paul Manafort, according to the New York Times.
The Fed starts to lose patience with Deutsche Bank AG after three cease and desist orders last year. Bloomberg's Steven Arons reports on "Bloomberg Markets: European Close." (Source: Bloomberg)...
A tense scene unfolded inside Deutsche Bank AG’s Manhattan tower just hours before news began leaking that the firm was looking for a new chief executive officer. U.S. regulators on that day in late March gave senior executives a stern warning that remains in effect: Europe’s biggest investment bank, they said, must act more urgently to fix lapses described in a series of settlements with the Federal Reserve over the past few years. The uneasy encounter, which was followed by another meeting between the Federal Reserve Bank of New York and Chairman Paul Achleitner, underscores a daunting behind-the-scenes challenge facing new CEO Christian Sewing.
Germany's federal supreme court on Tuesday sentenced a former Deutsche Bank (DBKGn.DE) employee to three years in prison for his role in a carbon emission permit trading scheme designed to curb global warming but used to fraudulently collect tens of millions of euros of sales tax. The ruling by the Federal Court of Justice affirmed the 2016 lower-court conviction of Helmut Hohnholz, formerly a regional sales manager with Deutsche's global markets division. The case of one former employee of Deutsche's tax accounting division was referred back to lower court as his active role in the crime could not be fully proven.
Deutsche Bank (DBKGn.DE) has no plans to pull out of Asian countries as it restructures its global business, Chief Executive Christian Sewing told staff and clients on his first visit to the region in his new role. After taking the helm at Germany's flagship lender last month, Sewing announced plans to cut back its U.S. investment banking activities where it has been unable to break the grip of the U.S. powerhouses such as Goldman Sachs and JP Morgan. The bank's business in Asia, however, remains key to the lender's global success, Sewing told a company town hall meeting in Singapore on Monday, according to a Hong Kong-based spokeswoman for the bank.
Royal Bank of Scotland Group Plc may overtake Deutsche Bank AG as the European lender with the highest disclosed legal bills since the financial crisis. RBS, which once ran one of the world’s largest securities firms, is set to pay a fine for misconduct by its investment bank. Its role in peddling mortgage-backed bonds that fueled the U.S. housing meltdown could cost RBS $4.9 billion, according to the terms of a tentative deal it reached with the U.S. Justice Department last week.
Neuberger Berman portfolio manager Steve Eisman is betting against Canadian financials, Deutsche Bank and Wells Fargo.
Deutsche Bank's new chief executive Christian Sewing needs to come up with a convincing strategy swiftly to stave off the threat of costly credit downgrades, the leading rating agencies told Reuters. Chances of a downgrade are "at least 50 percent", Giles Edwards, S&P's lead ratings analyst on Deutsche Bank, said in an interview with Reuters. S&P, like its counterparts Moody's and Fitch, is awaiting details on Deutsche's future strategy after the bank announced the outline of a revamp last month.
Deutsche Bank's (DBKGn.DE) new chief executive Christian Sewing needs to come up with a convincing strategy swiftly to stave off the threat of costly credit downgrades, the leading rating agencies told Reuters. Chances of a downgrade are "at least 50 percent", Giles Edwards, S&P's lead ratings analyst on Deutsche Bank, said in an interview with Reuters. S&P, like its counterparts Moody's and Fitch, is awaiting details on Deutsche's future strategy after the bank announced the outline of a revamp last month.
Deutsche Bank AG’s chief executive officer told employees in Asia that the bank isn’t planning to exit any country in the region as it presses ahead with a global overhaul, according to people familiar with the matter. Christian Sewing made the assurances at a townhall meeting in Singapore, the people said, asking not to be identified as the speech was private. During a separate investor forum that marked his first trip to Asia since taking over from John Cryan, he pledged to keep the struggling lender “strong” in the region even as it shuts offices and businesses elsewhere.
Steve Eisman, the Neuberger Berman Group money manager who famously predicted the collapse of subprime mortgages before the 2008 financial crisis, recommended shorting Deutsche Bank AG shares. “Deutsche Bank has real profitability issues,” Eisman said in a Bloomberg Television interview in Hong Kong. “Deutsche Bank is a problem bank.
Mark Fedorcik, head of US corporate finance who was promoted last week to the additional role of co-president of the corporate and investment bank, indicated there was more cutting to come, telling the Financial Times that Deutsche was now “doing a much better job on a systemic basis at looking at the underperformers”.
Deutsche Bank AG named a new head of fixed income, promoting credit-trading executive Ioannis “John” Pipilis to oversee the business that historically has dominated the lender’s giant trading operations, according to a memo sent Friday to employees. Mr. Pipilis, 41 years old, will replace Ram Nayak, who has overseen the fixed-income business since late 2015, according to the memo, signed by investment-banking chief Garth Ritchie. A Deutsche Bank spokesman confirmed the memo’s contents.
Let’s say you’re the chief financial officer of a company with some bonds outstanding, and you want to issue some new bonds, and you are trying to figure out what interest rate you’ll have to pay on the new bonds. The traditional way to do it is to open up your office door, where you will find a pack of investment bankers waiting to talk to you. If you turn the page, you will probably see some supporting data—charts of the yields on your existing bonds, new-issue concessions for other recent issuers in your sector with similar credit ratings, etc.—which serves both to justify the indicative pricing and to show you how much work the banks have done for you and how grateful you should be to them.
Bloomberg’s Jason Kelly discusses Deutsche Bank's future plans and who may benefit from layoffs. He speaks with Alix Steel and David Westin on "Bloomberg Daybreak: Americas." (Source: Bloomberg)...
has shaken up the management of its corporate and investment-banking division, its largest, as new CEO Christian Sewing aims to turn around the lossmaking German company. In an internal memo to staff on Friday, CIB boss Garth Ritchie named two co-presidents of the division: Ram Nayak, currently head of fixed-income trading, and Mark Fedorcik, the head of corporate finance in the US. Mr Nayak will add responsibility for risk and resource management across the bank, while handing off management of the global fixed-income business to Ioannis “John” Pipilis, a former co-head of global credit trading.
The gossip inside the Beverly Hills Hilton kept taking an unexpected turn -- toward, of all things, Deutsche Bank AG. In chandeliered conference rooms and marble-floored hallways, Wall Street A-listers chatted, with no shortage of schadenfreude, about the German bank’s recent capitulation: After two decades trying to build one of the world’s top investment banks, it’s settling for something less -- and may eliminate thousands of jobs, especially in the U.S. The main questions for many of its rivals attending the Milken Institute Global Conference: Can Deutsche Bank protect the U.S. businesses it wants to keep?
If HSBC Holdings Plc, UBS Group AG and Wells Fargo & Co. were concerned that the Trump administration might continue the big-ticket bank penalties of the Obama era, there are mounting signs that they need not be. Royal Bank of Scotland Group Plc says it has reached a tentative deal with the Justice Department to pay $4.9 billion to resolve an investigation into its sale of toxic mortgage-backed securities a decade ago. The Justice Department, without citing a figure, confirmed a pact was near.
Deutsche Bank recently announced what was its fourth reorganization plan in the last three years alongside underwhelming results for the first quarter of 2018. While the plan by incoming CEO Christian Sewing merely builds on ex-CEO John Cryan’s Europe-focused approach for the largest German bank, the single biggest change proposed by Sewing is a sharp reduction in the bank’s U.S. securities trading operations. Further, we have reduced our price estimate for Deutsche Bank’s stock from $18 to $16.
Paul Achleitner can breathe a sigh of relief. Advisory firm ISS on Wednesday recommended that shareholders support the chairman of Deutsche Bank AG at its annual general meeting May 24 -- but mainly because those who want rid of him haven’t suggested anyone better. The recommendation comes on the back of a string of meetings Achleitner has held with ISS and shareholders in the run-up to the AGM amid concerns over his role in a bruising ouster of ex-Chief Executive Officer John Cryan.