Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). He was one of the first traders to foresee the bubble in the CDO market as well as the tremendous potential that CDS offered in this. In October 2001, Deutsche Bank was listed on the New York Stock Exchange. 21–27. Managing Director and Chief Executive Officer, Gulf International Bank (UK) Ltd. Deputy Chairman of the Group Staff Council of Deutsche Bank AG, Deputy Chairperson of the Staff Council PWCC Center Frankfurt of Deutsche Bank, Chairperson of the Combined Staff Council Southern Bavaria of Deutsche Bank, Chairperson of the Staff Council Niedersachsen Ost of Deutsche Bank, Member of the Group Staff Council and European Staff Council of Deutsche Bank, Founder and Member of the Management Board, C-QUADRAT, Federal Chairman of the German Association of Bank Employees, Self-employed corporate consultant, Norbert Winkeljohann Advisory & Investments. [57], Deutsche Bank has negligible exposure to Greece. The second half of the 1890s saw the beginning of a new period of expansion at Deutsche Bank. [citation needed], Environmentalists criticize Deutsche Bank for co-financing the controversial Dakota Access Pipeline, which is planned to run close to an Indian reservation and is seen as a threat to their livelihood by its inhabitants. [96], From as late as 2001 to at least 2007, the bank engaged in covert espionage on its critics. It also maintained a branch in Istanbul, Turkey. ), Die Deutsche Bank in Frankfurt am Main, Munich, Zurich (Piper) 2005. [115][116][117], Deutsche Bank is widely recognized as being the largest creditor to real-estate-mogul-turned-politician Donald Trump, 45th President of the United States, lending him and his company more than $2 billion over twenty years ending 2020. You can only download this statistic as a Premium user. The risk of Deutsche taking large losses if the collateral was wiped out in a crisis was called the gap option. New, Everything you need to know about the industry development, Find studies from all around the internet. The bank estimates that could raise $48 billion. [67], In January 2016, Deutsche Bank pre-announced a 2015 loss before income taxes of approximately €6.1 billion and a net loss of approximately €6.7 billion. This feature is limited to our corporate solutions. [54], Greg Lippmann, head of global CDO trading, was betting against the CDO market, with approval of management, even as Deutsche was continuing to churn out product. [4] As of 2017–2018, Deutsche Bank was the 21st largest bank in the world by total assets. [97] Peter Gauweiler, a principal at the targeted law firm, was quoted as saying "I expect the appropriate authorities including state prosecutors and the bank's oversight agencies will conduct a full investigation. Deutsche Bank employees were seen leaving its London offices on Monday after the German lender announced its intent to cut 18,000 jobs by … The company's headquarters, the Deutsche Bank Twin Towers building, was extensively renovated beginning in 2007. Deutsche Bank immediately retained the law firm Cleary Gottlieb Steen & Hamilton in Frankfurt to conduct an independent investigation[98] and informed the German Federal Financial Supervisory Authority (BaFin). "Number of employees at Deutsche Bank worldwide from 2006 to 2019." Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. "Number of Employees at Deutsche Bank Worldwide from 2006 to 2019. Reviews from Deutsche Bank employees about Deutsche Bank culture, salaries, benefits, work-life balance, management, job security, and more. It was one of several banks described as colluding to fix interest rates used to price hundreds of trillions of dollars of loans and contracts worldwide, including mortgages and student loans. The renovation took approximately three years to complete. [97] According to the Wall Street Journal, the Cleary firm uncovered a plan by which Deutsche Bank was to infiltrate the Bub Gauweiler firm by having a bank "mole" hired as an intern at the Bub Gauweiler firm. The principal findings by the law firm, published in July 2009,[99] found four incidents that raised legal issues, such as data protection or privacy concerns. [152], German banking and financial services company, Alleged involvement in Danske Bank money-laundering scandal, Andrey Kostin (1979–2011), a Russian banker and son of, For the history of Deutsche Bank, in general, see. You only have access to basic statistics. Fitschen continued as joint CEO until May 2016. The company is a universal bank with three major divisions: the Private & Commercial Bank, the Corporate & Investment Bank (CIB), and Asset Management (DWS). [57] Deutsche bought insurance against default by blue-chip companies from investors, mostly Canadian pension funds, who received a stream of insurance premiums as income in return for posting a small amount of collateral. [110][111], Deutsche Bank has issued a statement addressing the criticism it received from various environmental groups. Number of employees at Deutsche Bank worldwide from 2006 to 2019 [Graph]. We are determined to align employee attitudes and aspirations with the needs of clients and the wider economy. As a Premium user you get access to the detailed source references and background information about this statistic. The following year, Josef Ackermann became CEO of Deutsche Bank and served as CEO until 2012 when he became involved with the Bank of Cyprus. This came after analysts had predicted a profit of nearly €600 million, according to FactSet estimates. According to the bank's own statistics the credit risks in these countries are about €18 billion (Italy) and €12 billion (Spain). [64] Furthermore, 15,000 jobs were to be cut. Employees are key because our people make Deutsche Bank what it is. President Donald Trump's main banker at Deutsche Bank is leaving the company, according to The New York Times. Manfred Pohl / Angelika Raab-Rebentisch, Die Deutsche Bank in Bremen 1871–1996, Munich, Zurich (Piper) 1996. Please contact us to get started with full access to dossiers, forecasts, studies and international data. This statistic is not included in your account. In 1972, the bank created the world-known blue logo "Slash in a Square" – designed by Anton Stankowski and intended to represent growth within a risk-controlled framework. The disclosed information is derived from the IFRS Group accounts of Deutsche Bank. [citation needed], During the Annual General Meeting in May 2019, CEO Christian Sewing said he was expecting a "deluge of criticism" about the bank's performance and announced that he was ready to make "tough cutbacks"[72] after the failure of merger negotiations with Commerzbank AG and weak profitability. [129] Six days later, Ramos granted Trump's attorneys their request for a stay so they could pursue an expedited appeal through the courts. [29] In December 1999 Deutsche, along with other major German companies, contributed to a US$5.2 billion compensation fund following lawsuits brought by Holocaust survivors. Please create an employee account to be able to mark statistics as favorites. [27][28] During the war, Deutsche Bank incorporated other banks that fell into German hands during the occupation of Eastern Europe. AmbitionBox has 1.1k Deutsche bank reviews submitted by Deutsche bank employees. [70], In November 2018, the bank had their Frankfurt offices raided by police in connection with ongoing investigations around the Panama papers and money laundering. You need a Single Account for unlimited access. Joint ventures were symptomatic of the concentration then under way in the German banking industry. In 1999, Deutsche Bank confirmed officially that it had been involved in Auschwitz. The bank has admitted to episodes of spying in 2001 and 2007 directed by its corporate security department, although characterizing them as "isolated". [5] As the largest German banking institution, it is a component of the DAX stock market index. [54], Deutsche was also involved with Magnetar Capital in creating its first Orion CDO. [147] Although the whistleblower, Howard Wilkinson, did not name Deutsche Bank directly, another inside source claimed the institute in question was Deutsche Bank's U.S. [76][77], It was reported in January 2020 that Deutsche Bank had decided to cut the bonus pool at its investment branch by 30% following restructuring efforts.[78]. Please do not hesitate to contact me. [68] Following this announcement, a bank analyst at Citi declared: "We believe a capital increase now looks inevitable and see an equity shortfall of up to €7 billion, on the basis that Deutsche may be forced to book another €3 billion to €4 billion of litigation charges in 2016. [145][146], On 19 November 2018, a whistleblower on alleged money-laundering activities undertaken by Danske Bank stated that a large European bank was involved in helping Danske process $150 billion in suspect funds. One of our Born to Be highlights in the US is our long-standing partnership with StreetWise, where Deutsche Bank employees provide volunteer leadership and mentorship to CUNY community college students. Deutsche continued to build up its presence in Italy with the acquisition in 1993 of Banca Popolare di Lecco from Banca Popolare di Novara for about $476 million. Prosecutors from the office of Manhattan District Attorney Cyrus Vance Jr. have interviewed employees of Deutsche Bank and insurance … This is a drop from the average of roughly 100,000 employees the bank had starting in 2010. CS1 maint: multiple names: authors list (. [101] The bank initiated steps to strengthen controls for the mandating of external service providers by its Corporate Security Department and their activities. Deutsche Bank said during an investor day earlier this month that it was on target to gather €9.2bn in revenues across its investment banking division this year — a 31% increase on 2019 — as fixed-income trading revenue and investment banking advisory work has grown significantly during the … As of September 2017 it stands at 11.9%. [32] These regional banks were later consolidated into three major banks in 1952: Norddeutsche Bank AG; Süddeutsche Bank AG; and Rheinisch-Westfälische Bank AG. Deutsche Bank AG (German pronunciation: [ˈdɔʏ̯tʃə ˈbaŋk ʔaːˈɡeː] (listen)) is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the New York Stock Exchange and the Frankfurt Stock Exchange. [131] In December 2019, the Second Circuit Court of Appeals ruled that Deutsche Bank must release Trump's financial records, with some exceptions, to congressional committees; Trump was given seven days to seek another stay pending a possible appeal to the Supreme Court. Chart. [109] The bank is still under investigation by the US Justice Department and NYDFS into possible sanctions violations relating to the 2014–15 Ukrainian crisis and its activities within Russia. He was a large character in Michael Lewis' book The Big Short, which detailed his efforts to find 'shorts' to buy Credit Default Swaps for the construction of Synthetic CDOs. Maximilian Müller-Jabusch, 50 Jahre Deutsch-Asiatische Bank 1890–1939, Berlin 1940. [149][150], U.S. prosecutors are investigating Deutsche Bank's role in a multibillion-dollar fraud scandal involving the 1Malaysia Development Berhad, or 1MDB, according to news reports in July 2019. As portrayed in The Big Short, Lipmann in the middle of the CDO and MBS frenzy was orchestrating presentations to investors, demonstrating his bearish view of the market, offering them the idea to start buying CDS, especially to AIG in order to profit from the forthcoming collapse. The Corporate & Investment Bank (CIB) is Deutsche Bank's capital markets business. Please authenticate by going to "My account" → "Administration". [69], Six former employees were accused of being involved in a major tax fraud deal with CO2 emission certificates, and most of them were subsequently convicted. Russian criminals with links to the Kremlin, the … This was the first NYSE listing after interruption due to 11 September attacks. Then you can access your favorite statistics via the star in the header. [30][31] The history of Deutsche Bank during the Second World War has since been documented by independent historians commissioned by the Bank. Flitter, Emily; Enrich, David (15 April 2019). As the share had lost value since mid-2015 and market capitalization had shrunk to around EUR 18 billion, it temporarily withdrew from the Euro Stoxx 50 on 8 August 2016. The private bankers to President Donald Trump and Jared Kushner have resigned from Deutsche Bank, the bank said. And ­Deutsche Bank has … Instead the board was represented by a speaker of the board. The bank's exposure at the time of sale was more than $4 billion, however it sold the property to Blackstone Group for $1.73 billion. On the previous day, Sewing had laid blame on unnamed predecessors who created a "culture of poor capital allocation" and chasing revenue for the sake of revenue, according to a Financial Times report, and promised that going forward, the bank "will only operate where we are competitive". [21][22], The bank merged with other local banks in 1929 to create Deutsche Bank and Disconto-Gesellschaft. Group CEO and Chairman of the Group Executive Committee, Douglas L. Braunstein (Hudson Executive Capital LP), C-QUADRAT Special Situations Dedicated Fund, Berkshire Mortgage Finance, 22 October 2004, Chapel Funding (now DB Home Lending), 12 September 2006, Justin Kennedy - Global head of real estate capital market (1997-2009), This page was last edited on 22 December 2020, at 00:53. Deutsche Bank AG told its New York City employees that they can continue working from home until mid-2021, in contrast to rival banks that are seeking to return staffers to offices. [118] The bank held more than $360 million in outstanding loans to the candidate in the months prior to his 2016 election. Total market capital (US$ billion) across the top 70 banks by country Rank Country Number Total Market Cap (US$ billion) At the time of the agreement, Deutsche Bank was still facing investigations into the alleged manipulation of foreign exchange rates, suspicious equities trades in Russia, as well as alleged violations of U.S. sanctions on Iran and other countries. As a Premium user you get access to background information and details about the release of this statistic. In 2019, our Born to Be programs reached some 460,000 children and young people via 122 projects in 25 countries. and over 1 Mio. [133][134], On 19 November 2019, Thomas Bowers, a former Deutsche Bank executive and head of the American wealth management division, was reported to have committed suicide in his Malibu home. It worked with Elliot Advisers on one of them; Elliot bet against the CDO even as Deutsche sold parts of the CDO to investors as good investments. Deutsche also worked with John Paulson, of the Goldman Sachs Abacus CDO controversy, to create some START CDOs. This series of acquisitions was closely aligned with the bank's strategy of bolt-on acquisitions in preference to so-called "transformational" mergers. [26], Following Germany's defeat in World War II, the Allied authorities, in 1948, ordered Deutsche Bank's break-up into regional banks. In a Libor first, Deutsche Bank will be required to install an independent monitor. [130] In October 2019, a federal appeals court said the bank asserted it did not have Trump's tax returns. As of 2016, the bank was involved in some 7,800 legal disputes and calculated €5.4 billion as litigation reserves,[95] with a further €2.2 billion held against other contingent liabilities. The bank had "ignored red flags on Epstein". 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Mirror-Trade Probe for $425 Million", "Trump's Bank Was Subpoenaed by N.Y. Register in seconds and access exclusive features. Corporate solution including all features. Deutsche lost money on START, as it did on Gemstone. Deutsche Bank: 38.649 64 KBC Bank: 38.394 65 Danske Bank: 38.223 66 Ping An Bank: 37.993 67 Standard Chartered: 37.319 68 United Overseas Bank: 35.128 69 QNB Group: 33.560 70 Bank Rakyat: 33.081 Banks by country or territory. The two financial companies involved are Deutsche Bank and the insurance brokerage company, Aon. [141], The New York Department of Financial Services (DFS) imposed a $150 million penalty on Deutsche Bank on 7 July 2020, in connection with Epstein. [42][43] Jain persuaded Ryan to remain with Deutsche Bank at its new Russian offices and later, in April 2007, sent the President and Chairman of the Management Board of VTB Bank Andrey Kostin's son Andrey to Deutsche Bank's Moscow office. [105][104] The size of the fine reflected the breadth of wrongdoing at Deutsche Bank, the bank's poor oversight of traders, and its failure to take action when it uncovered signs of abuse internally. Deutsche Bank AG engages in the provision of corporate banking and investment services. [58], For the 2008 financial year, Deutsche Bank reported its first annual loss in five decades,[59] despite receiving billions of dollars from its insurance arrangements with AIG, including US$11.8 billion from funds provided by US taxpayers to bail out AIG. Deutsche Bank opened the casino in 2010 and ran it at a loss until its sale in May 2014. Accessed December 24, 2020. https://www.statista.com/statistics/262691/number-of-employees-at-deutsche-bank-since-2006/, Deutsche Bank. It was estimated that the sum of money in the tax evasion scandal might have been as high as €850 million. (March 20, 2020). Statista. Available to download in PNG, PDF, XLS format, Access to this and all other statistics on 80,000 topics from, Largest European banks in 2019, by assets, Largest banks globally 2019, by revenue from investment banking, Leading financial advisors to global M&A 2019, by deal value. Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the New York Stock Exchange and the Frankfurt Stock Exchange. Rosemary Vrablic, a managing director at the bank… A relationship between Bowers's responsibilities and apparent suicide has not been established; the Los Angeles County Medical Examiner – Coroner has closed the case, giving no indication to wrongdoing by third parties. As of December 2017[update] Deutsche Bank's role in, and possible relevance to, Trump and Russian parties cooperating to elect him was reportedly under investigation by Special Counsel Robert Mueller. [85] With a 0.73% stake, it is currently the company with the lowest index weighting. This settlement came subsequent and in addition to Deutsche's $1.93 billion settlement with the US Housing Finance Agency over similar litigation related to the sale of mortgage-backed securities to Fannie Mae and Freddie Mac. "Deutsche Bank Is Subpoenaed for Trump Records by House Democrats". As part of the agreement, Deutsche Bank was required to pay a civil monetary penalty of $3.1 billion and provide $4.1 billion in consumer relief, such as loan forgiveness. Trump's son-in-law and … Deutsche Bank was founded in Berlin in 1870 as a specialist bank for financing foreign trade and promoting German exports. [35] At the time, Deutsche Bank owned a 12% stake in DaimlerChrysler but United States banking laws prohibit banks from owning industrial companies, so Deutsche Bank received an exception to this prohibition through 1978 legislation from Congress.[35]. The CDO was then aggressively marketed as a good product, with most of it being described as having A level ratings. [94], Deutsche Bank in general as well as specific employees have frequently figured in controversies and allegations of deceitful behavior or illegal transactions. The Cleary firm has concluded its investigation and submitted its report, which however has not been made public. [21] In 1926, the bank assisted in the merger of Daimler and Benz. [135] Bowers had been in charge of overseeing and personally signing over $360 million in high-risk loans for Trump's National Doral Miami resort. Hase & Koehler ) 1987 its critics 2001 to at least 2007 the. Information and details about the release of this statistic as a Premium user you access! Entered retail banking by introducing small personal loans has 600 workers in a Libor first, Bank... Bank engaged in covert espionage on its critics ventures were symptomatic of the board by going to `` account! 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