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Stories of Interest
- Stephen Hicks Barred for Defrauding His CT Hedge Funds - SEC
- Barclays CEO Staley Sees Pay Decline - Frankly, He's Lucky to Still be Employed
- Barclays Female Investment Bankers Earn 21% Less in Bonuses than Male Counterparts
- FINRA Eliminates $400 Fee for Explained Arbitration Decision
- SEC Adopts Statement and Interpretive Guidance on Public Company Cybersecurity Disclosures
- SEC Charges Former Bitcoin Exchange and Its Founder With Fraud
- JPMorgan Chase to Replace NYC Headquarters with 70-Story Skyscraper
- 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
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NEWSLETTERS & ALERTS
New Issues Arise for Deutsche Bank
The European Central Bank uncovers risk management issues.
For the past 3 years, shares in Deutsche Bank have been on a downward spiral. After trading as high as $50 a share in January 2014, DB shares hit bottom at $12.75 (on 9/16/16) before running up to $20.46 a share on 1/23/17 – thanks largely to the Trump Bump.
Charged with returning Deutsche Bank to profitability and stability, new CEO John Cryan has been implementing a comprehensive restructuring plan, complete with massive legal settlements, cost cuts, and personnel layoffs. And if that wasn’t enough, Cryan announced earlier this month that the bank would need to raise an additional $8.5 billion in capital – which likely would dilute current shareholders’ positions.
So with all of that, what else could befall Deutsche Bank? Well, on Friday, the European Central Bank issued a negative review on Deutsche Bank’s risk controls. The review by the ECB, which began several months ago, found deficiencies in derivatives and complicated financial bets that raises concerns about how the bank prices contracts ranging from insurance to climate-related securities.
Oh, and did we mention that DB shares were down 2.5% on Friday, 3/17?