This comes after HNA spent billions of dollars in financing and complex derivatives in 2017 to build its stake in the struggling German lender, becoming Deutsche Bank’s biggest shareholder with a holding of just under 10%. Since that position was disclosed almost a year ago, Deutsche Bank shares have declined by more than 30%. An HNA spokesman said Saturday the company “decided not to renew a part of the financing structure for our stake in Deutsche Bank,” citing “the current market environment.” The stake cut was disclosed in a regulatory filing.
Deutsche Bank AG’s biggest shareholder cut its stake in the lender, it disclosed Saturday, after saying in February that another reduction wasn’t planned.
Deutsche Bank AG made an accidental $35 billion payment to Eurex Clearing, temporarily increasing the holdings of the world's fourth-largest clearing house by more than half. Bloomberg's Carol Massar and ...
Deutsche Bank AG’s accidental payment of 28 billion euros ($35 billion) to Eurex Clearing increased the collateral held by the world’s fourth-largest clearinghouse by more than half. Deutsche Bank’s payment, first reported by Bloomberg News, was equivalent to 55 percent of the collateral held by Eurex Clearing on behalf of the entire market. Almost every trading firm and bank uses Eurex Clearing to protect their bets on securities ranging from bund derivatives to futures on the DAX and Euro Stoxx 50 equity benchmarks.
A third round of talks to form a government in the Roman palazzos this week has done little to clarify Italy’s political future. Put simply, the populist Five Star Movement — which emerged from the March ...
The bad news at Deutsche Bank AG just got worse. Amid a weeks-long leadership tussle that claimed the scalps of the chief executive, two of his top lieutenants and tainted its chairman, the bank inadvertently transferred 28 billion euros ($35 billion) to one of its outside accounts, Bloomberg News has revealed. For Deutsche Bank, the mistake comes at a delicate time as the new CEO, Christian Sewing, seeks to convince investors the bank can now return to growth.
A routine payment went awry at Deutsche Bank AG last month when Germany’s biggest lender inadvertently sent 28 billion euros ($35 billion) to an exchange as part of its daily dealings in derivatives, according to a person familiar with the matter. The error was quickly spotted and no financial harm suffered. The errant transfer occurred about a week before Easter as Deutsche Bank was conducting a daily collateral adjustment, the person said.
The on-again, off-again merger talks between Sprint Corp (NYSE: S ) and T-Mobile Us Inc (NASDAQ: TMUS ) are back on again, according to The Wall Street Journal — which prompted Macquarie Capital to drop ...
Deutsche Bank (DBKGn.DE) is considering reducing the size of its executive board after the departure of chief operating officer Kim Hammonds, a person close to the matter said. The responsibility for information technology, which was Hammond's main task, may be transferred to another board member, the person said, adding the bank would need clearance from supervisory authorities for a such move. Deutsche Bank declined to comment on the matter, which was first reported by daily Handelsblatt.
Deutsche Bank has blamed an “operational error” for the accidental transfer of €28bn from Germany’s biggest lender to an exchange. Deutsche sent the €28bn to an account at Deutsche Boerse Eurex about a ...
Deutsche Bank AG said Chief Operating Officer Kim Hammonds will leave the company next month, the latest executive to depart the troubled German lender. Earlier this month, Deutsche Bank named Christian Sewing to replace John Cryan as CEO following weeks of management tumult at the bank. Ms. Hammonds was seen as an ally of Mr. Cryan and had been in talks about potentially leaving Deutsche Bank, according to people familiar with the matter.
Deutsche Bank's (DBKGn.DE) chief operating officer Kim Hammonds is stepping down, the German lender said on Wednesday, amid a continuing reshuffle of its executive suite. Hammonds had been tasked with streamlining the bank's IT systems, but she came under pressure after disparaging comments she made about the bank became public. Deutsche Bank said that she was leaving by "mutual agreement" and that a successor would be named after consultations with regulators.
The chaotic shakeup at Deutsche Bank AG sent more aftershocks through the bank’s top ranks as its chief operating officer was ousted and its head of investor relations quit. Kim Hammonds, who reportedly called Deutsche Bank “the most dysfunctional company” she’d ever worked for, will leave “by mutual agreement” at the annual general meeting on May 24, the Frankfurt-based lender said late Wednesday. Earlier, the bank announced that John Andrews, head of investor relations for five years, is leaving because of the recent management changes.
Deutsche Bank AG has appointed Beng-Hong Lee as China head of its institutional clients group, a business unit that distributes fixed-income and equities products to institutional investors, according to an internal memo seen by Reuters. Lee, who joined Deutsche Bank in 2003 and was most recently its global markets head in China, will take up the newly created role with immediate effect and will continue to be based in Shanghai, said the memo sent to the bank's internal staff.
Deutsche Bank chief operating officer Kim Hammonds has become the latest senior executive to quit the bank. The German lender confirmed her departure on Wednesday night, saying it came about “by mutual agreement with the supervisory board”. Ms Hammond, a former Boeing executive, was a close ally of Deutsche’s recently departed chief executive John Cryan.
(Updates Open Text and Eletropaulo Metropolitana; adds Xerox, Sanofi, Murray & Roberts, Goldman Sachs, Toys "R" Us and Fortis Healthcare) April 17 (Reuters) - The following bids, mergers, acquisitions ...
FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) has ended talks to sell its Indian retail and wealth management business to private lender IndusInd Bank Ltd (INBK.NS), two people with knowledge of the matter ...
All 116 turbines at top German utility E.ON's Rampion offshore wind farm in Britain are now able to generate electricity and are delivering power to the grid, the company said on Tuesday. The 400-megawatt project is being built off the coast of Sussex in southeast England by E.ON, UK Green Investment Rampion Ltd and Canadian energy infrastructure company Enbridge. The farm will generate electricity to supply 347,000 homes, equivalent to around half of the households in Sussex.
Deutsche Bank AG called off talks to sell its retail and private wealth businesses in India to IndusInd Bank Ltd., people with knowledge of the matter said.
