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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
CEO, CRO Changes at Deutsche Bank
by Howard Haykin
Deutsche Bank is expected to replace senior executives in the U.S. by year’s end. Sylvie Matherat, the bank’s Chief Regulatory Officer and a member of the management board, and Tom Patrick, who runs operations in the Americas, are among the executives most likely to leave. Zia Huque, head of DB’s broker-dealer, may also be on a short leash.
The moves are part of an effort to mollify regulators who have cited Deutsche Bank for repeated compliance failures. In September, Germany’s markets regulator ordered the firm to improve money-laundering and terrorism-financing controls. In another instance, aA Danske Bank whistle-blower implicated Deutsche Bank’s U.S. unit in a scandal involving $150 billion in laundered funds.
That said, under Ms. Matherat, the bank has reinforced its compliance and AML task forces by 50% since 2015.