BROWSE BY TOPIC
Stories of Interest
- Citigroup Raises CEO Corbat's Pay 48% to $23Mn
- Should Congress Create a Crypto-Cop?
- JPMorgan Weighs Buying an Exchange-Traded Funds Firm
- Hey, Goldman Sachs: Wanna Buy BNY Mellon?
- SEC Order Rejecting Acquisition of Chicago Stock Exchange (CSX) by Chinese-Baesd Company
- Kyle Moffatt Named Chief Accountant in SEC CorpFinance
- SEC Suspends Trading in 3 Issuers Claiming Involvement in Cryptocurrency and Blockchain Technology
- Karen Garnett, Assoc. Director of SEC CorpFinance, to Leave After 23 Years of Service
- Louisiana Adviser Barred for Hiding Losses from Investors
- Connecticut HF Manager Illegally Diverted Investor Money - Now Owes Nearly $13Mn
- White House Cleaning House of Advisors Without Full Security Clearance
- Goldman Projects 30% Growth in Wealth Management Advisor Force
- Whistleblower Alleges Manipulation of CBOE Volatility Index
- FINRA Looking Into VIX (CBOE Volatility Index) Manipulation: WSJ
- Atlanta-Area Resident Charged with Misusing Investor Funds - SEC
- FINRA Announces 2018 West Region Networking Seminar
- Alberto Arevalo, Associate Director in Office of International Affairs, to Retire From SEC
- A Culprit for Financial Site Glitches: You and Your Apps
- Investor Protection, Capital Formation and Market Integrity Are Top Priorities in SEC Budget Request
- We Must Stop Out-Of-Control Trading or U.S. Capitalist System Will Break Down - Dick Bove
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
NEWSLETTERS & ALERTS
Deutsche Bank's Wild Ride Begins With Replacing U.S. Chief
[Photo: John Cryan, the Deutsche Bank CEO, posing on a Harley Davidson as a gag for wife Mary, the photographer.]
Deutsche Bank Announced that Thomas Patrick is replacing Bill Woodley as CEO of Deutsche Bank Americas.
Bill Woodley joined DB in 1998. Prior to his current appointments, Woodley he served as the Global COO for Regional Management, the Regional COO for Asia Pacific and the Supervisor of the Board for Deutsche Bank (China) Co. Ltd. He also worked for the Equities division.
Tom Patrick has been Head of Global Equities at Deutsche Bank AG since November 2015.
Earlier this month, CEO John Cryan announced big changes at the firm, after a torturous end to 2016 when DB agreed to pay $7.2 billion to settle Justice Department charges that the firm had sold toxic mortgage-backed securities leading up to the financial crisis.
Among the changes: (i) Cryan would take a more hands-on approach to DB business in the U.S.; (ii) the bank will raise about $8.5 billion; and, (iii) DB would list on the stock market its asset management business. But key to the bank’s success will be the growth of its bond trading business, to which Cryan has committed even as he continues to cut costs, axe reduce staff and limit bonuses elsewhere.
The German lender is now aiming to rank in the top 5 globally for FICC (fixed income, currencies and commodities) and top 3 in Europe.
And, of course, any investment bank with global ambitions needs to have a large Wall Street presence given America is the most lucrative market for investment banking fees and home to the world’s largest institutional investors.