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New York / FrankfurtSince taking office in April, Christian Sewing, CEO of Deutsche Bank, has been trying to bring the distressed investment company back on track for success, but he is not afraid of conversions within management. Sewing seems to be particularly concerned about the ratio of the largest national currency house to supervisors. At least the pressure on key officials has risen sharply in recent weeks.
In particular, the board responsible for oversight, regulatory and compliance issues, Sylvie Matherat, and the head of the US business, Tom Patrick, are subject to criticism. In particular, Patrick's work is in danger, he says in financial circles. It is possible that there is a break this year, according to the information, the bank already has a successor in sight.
Patrick is responsible internally, among other things, for the bad reputation of the bank with US authorities. Deutsche Bank was once again affected by the US stress test this year and faced severe criticism from supervisors of its systems and processes.
Discontent with Matherat has recently increased significantly, is heard in the financial circles. A small farewell to the French, which brought the predecessor of Sewing, John Cryan, to the board, but rather unlikely. At the present time, there have been no negotiations for the dissolution of the Matherat contract. The Supervisory Board will meet again next December. Deutsche Bank would not comment on this.
The subject of compliance is still a problem for the Bank. Regulators have repeatedly reprimanded the Institute for its lax controls in the past. In addition, Deutsche Bank is currently in the sights of the authorities.
This is the scandal of money laundering at the Danish bank Danske. Their branch in Estonia has transferred more than $ 200 billion of funds from illegal customers from Russia and other former Soviet republics to the West between 2007 and 2015. About 150 billion of them would have pbaded through Deutsche Bank. Matherat said last week at a Handelsblatt meeting that as a correspondent, it did not belong to their bank to control Danske's customers.
Matherat would not be the leading sewing leader. At the end of October, Nicolas Moreau, head of the DWS fund subsidiary, had to leave the bank. He was replaced by Asoka Wöhrmann, who, unlike Moreau, does not join the board.
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