Tag Archives: Deutsche Bank

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Is Deutsche Bank’s Refusal to Pay Junior Lawyers Misguided?

Is Deutsche Bank’s Refusal to Pay Junior Lawyers Misguided?

Talk of the morning came out of the U.K., when Legal Week reported that Deutsche Bank will stop paying its outside law firms for work performed by newly qualified lawyers and trainees. “The decision, which will apply to firms appointed as a result of Deutsche’s current panel review, represents a first major move by a

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Deutsche Bank Now Has — Count ’Em — Five Outside Monitors

By Greg Farrell, Bloomberg News Banks that settle government investigations often receive an outside monitor to ensure that they make good on their promises to reform. Deutsche Bank AG now has five. To resolve the Justice Department’s investigation over its mortgage-backed securities business, the bank agreed Tuesday to a $7.2 billion penalty, more than half

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Deutsche Bank Investors Fret Its Legal Reserves Won’t Be Enough

By Jan-Henrik Foerster, Bloomberg News Deutsche Bank AG is moving closer to settling one of its biggest legal cases. How it manages to pay will depend on whether it can persuade the U.S. to lower its initial request of $14 billion, and by how much. The shares of Germany’s biggest bank plunged on news the Department

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Whistleblower Decries Revolving Door between SEC and Deutsche Bank

A former Deutsche Bank risk officer who is refusing to take a Securities and Exchange Commission whistleblower award worth more than $8 million is raising a stink about the lawyers in the case. In an op-ed in the Financial Times on Friday, the whistleblower Eric Ben-Artzi said he is refusing the money out of concerns about the “revolving

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This Top Deutsche Bank Lawyer is Coming Out of Retirement

Joseph Polizzotto is coming out of retirement to take a senior leadership role at one of the country’s biggest legal outsourcing companies. If you don’t know the name, Polizzotto ran Deutsche Bank Americas as its general counsel from March 2009 to June 2014, when he handed off the reins to Michael Chepiga, a longtime litigator of

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Deutsche Bank Board Erupts Into Conflict Over Legal Expenses

By Nicholas Comfort and Ambereen Choudhury, Bloomberg News Deutsche Bank AG’s mounting legal costs led to open conflict on the supervisory board, with the deputy chairman publicly criticizing another member, Georg Thoma, of going too far in probing potential wrongdoing. “Thoma increasingly faces criticism for his overzealousness and judicial self-fulfillment,” Alfred Herling, a labor representative on the 20-member

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‘Mad Punter’ Lawyer Asks Jury to Abandon Envy of Trader’s Wealth

By Suzi Ring, Bloomberg News The lawyer for a “larger than life” day trader caught-up in the U.K.’s biggest insider-dealing case told a London jury they must set aside any envy they feel about his wealth and avoid treating the trial like a popularity contest. Iraj Parvizi, dubbed the “Mad Punter” by other traders for

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Deutsche Bank Taps Citigroup Alum as Compliance Officer

Deutsche Bank has announced that Pamela Root will join its London office in June as the global head of compliance and group chief compliance officer. Root, an alum of Goldman Sachs and Sullivan & Cromwell, most recently served as Citigroup’s chief compliance officer for the global institutional client group. She held that position since 2009. As others have noted, many banks are beefing up their compliance

Michael Steinberg, a former fund manager with SAC Capital Advisors LP, right, and attorney Barry Berke exit federal court following a sentencing hearing in New York, U.S., on Friday, May 16, 2014. Photo by Louis Lanzano/Bloomberg

The Mayor Wanted This Lawyer to Speak with Preet Bharara

The lawyer who represented former SAC Capital Fund Advisors fund manager Michael Steinberg against insider trading charges has found his latest gig: Bill de Blasio’s point of contact for U.S. Attorney Preet Bharara, in his reported investigation into the Mayor’s campaign finances. During a recent press conference, de Blasio fielded questions about the probe and

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Should Big Law Firms Take a Stand on Social Issues?

On Tuesday, Deutsche Bank AG announced that it would freeze expansion plans in North Carolina after the state passed a law that lifts protections based on sexual orientation. The development prompted us to ask: Would a law firm ever do such a thing? If the past is any precedent, the chances are unlikely. Law firms haven’t

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