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Stories of Interest
- New Cyberattack Goes Global, Hits WPP, Rosneft, Maersk
- Deutsche Bank Said to Lose as Much as $60Mn Over Derivative Trade
- Dimon Says JPMorgan Headcount to Keep Rising Despite Automation
- RBS to Cut 443 Jobs In UK, Move Many of Them to India
- Deutsche Bank Bullish on London Despite Brexit
- Supreme Court Nears Finish With Big Cases, Retirement Rumors
- The Richest Person in Every State
- LPL Tabs Scott Seese, Former eBay Exec, as Chief Information Officer
- Fired Biglaw Associate Arrested for Trying to Extort Partners
- Canada's CIBC Completes $5Bn PrivateBancorp Buy
- Word ‘Women’ Literally Never Appears in U.S. Senate’s 142-Page Health-Care Bill
- Stephen Pierce, Goldman Sachs Global Head of Equity Markets, To Retire
- Al Gore 'Not Very Smart,’ But Became Filthy Rich Using Simple Investing Formula - Charlie Munger
- U.S. Regulators, Lawmakers Support Volcker Rule Revamp at Hearing
- Morgan Stanley Opts for Frankfurt as New EU Hub
- A New Risk for Goldman, Morgan Stanley in Stress Tests (subsc reqd)
- A Trump Bump for Law Firm of President’s Lawyer - Kasowitz Benson Torres
- JPMorgan, BofA, Goldman, Citi, Wells Fargo Pass Fed's Stress Test
- Blackstone Stock Still Trading at $31 - Its IPO Price From 10 Years Ago
- NJ Resident and NY-Based Global FX Club Charged with Solicitation Fraud, Misappropriation - CFTC
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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?