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Deutsche Bank Pressured to Come Clean on Trump
The international banking giant that Donald Trump and some of his family use is coming under pressure to appoint an independent auditor to examine its books for any suspicious links between Trump’s...
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Deutsche Bank Just Announced a Major Strategic Overhaul and Capital Raise
Deutsche Bank plans to raise capital, list its asset management business and overhaul its business structure as it tries to reinvent itself after spending two years dealing with its past misdeeds and...
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UBS Has Cut Down on Bonuses, Including for Its CEO
UBS cut its bonus pool by 17% in 2016 to 2.9 billion Swiss francs ($2.9 billion) after full-year net profit almost halved at Switzerland’s biggest bank. In its compensation report published on Friday,...
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CEO Daily: The Best in Business Reading
Good Morning. Have you heard about the oil traders who humbled Wall Street's top investment banks and earned $9.1 billion for their clients over just the past two years? I certainly hadn't. The...
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Deutsche Bank May Take $350 Billion Out of London Post-Brexit
In the aftermath of the Brexit vote from a year earlier, German banking giant Deutsche Bank has been making plans to downsize its London operations. Now, the bank led by CEO John Cryan is reportedly...
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The U.K. Won’t Become a Tax Haven After Brexit, Minister Promises
Britain won’t become a corporate tax haven in order to stay competitive after leaving the EU, its Treasury chief promised at the weekend. That’s the latest big shift in U.K. policy since the general...
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BHP Intends to Sell US Shale Business
BHP Billiton Ltd. bhplf bowed to activist investors seeking a streamlining of its business by unveiling plans to sell its U.S. shale assets-acquired in a $20 billion deals spree in 2011-and delaying a...
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More Banks Join UBS-Led Blockchain Scheme to Speed Up Settlements
The roster of banks supporting UBS’s big blockchain initiative has swelled with the addition of Barclays, HSBC, State Street, Credit Suisse, MUFG and the Canadian Imperial Bank of Commerce. The banks...
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Germany Tells the ECB It’s Time to Start Raising Interest Rates
Germany’s finance minister and the CEO of its largest private bank rounded on the European Central Bank Wednesday, urging it to stop flooding financial markets with money and return interest rates to...
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The U.S. Is Going After a Subprime Mortgage Banker—10 Years After the...
Ten years after the financial crisis exploded, is the government finally going after the individual bankers who helped cause it? The Department of Justice filed civil suit Monday in a Federal Court in...
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Deutsche Bank’s CEO Hints at Thousands of Job Cuts
Deutsche Bank db CEO John Cryan dropped his clearest hint about the scale of his planned slash-and-burn exercise at Germany’s biggest lender. "We employ 97,000 people,” Cryan told the Financial Times....
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China’s HNA Group Is Looking to Offload Billions in Overseas Property Amid...
Chinese HNA Group is offloading commercial properties in major cities as it looks to pay off the debt that has funded over $40 billion worth of acquisitions since 2015. According to the Wall Street...
View ArticleOnline Education, Sony CEO, CBS-Viacom: CEO Daily for February 2, 2018
Good morning. I spent some time yesterday with Chip Paucek, co-founder and CEO of education-tech company 2U, which is rapidly growing its business and now has a market cap approaching $4 billion....
View ArticleFacebook, HSBC, Deutsche Bank: CEO Daily for February 20, 2018
Good morning. Lots of media frothing over the long holiday weekend on the FBI's Russia indictment and Trump's Twitter ripostes. But CEO Daily thinks the biggest loser in the melee was Facebook. The...
View ArticleDeutsche Bank Is Leaning Toward Christian Sewing as Next CEO
Deutsche Bank AG's supervisory board is leaning toward naming Christian Sewing to succeed Chief Executive Officer John Cryan and promoting Garth Ritchie to sole investment banking head as part of a...
View ArticleWhy Deutsche Bank Replaced CEO John Cryan After Less Than 3 Years
The appointment of Christian Sewing as Deutsche Bank's chief executive officer to replace an embattled John Cryan after less than three years — and three turnaround plans — answered just one of the...
View ArticleFacebook, Deutsche Bank, Rusal: CEO Daily for April 9, 2018
Good morning. Facebook's Mark Zuckerberg will testify before Congress this week. At issue is not just Russian interference in the election, but the broader question of how Facebook gathers and shares...
View ArticleRuble Tumbles, Glencore Backs Away, Uber Loses: CEO Daily for April 10, 2018
Good morning. While you were sleeping, President Xi Jinping gave a major speech promising to increase the access of foreign companies to China's financial and manufacturing sectors, cut imported car...
View Article‘This Was an Operational Error.’ Deutsche Bank Accidentally Transferred $35...
A routine payment went awry at Deutsche Bank last month when Germany's biggest lender inadvertently sent 28 billion euros ($35 billion) to an exchange as part of its daily dealings in derivatives,...
View ArticleDeutsche Bank Weighs Cutting 10% of Jobs
German banking giant Deutsche Bank may be hoping to ramp up cost cuts even more aggressively under a new CEO. The bank, which has struggled to recover from the 2008 financial crisis and underperformed...
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