45 Facts About Deutsche Bank

Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange.

Deutsche Bank was founded in Berlin in 1870 as a specialist bank for financing foreign trade and promoting German exports.

In subsequent years, Deutsche Bank took part in the aryanization of Jewish-owned businesses, provided the owners of “aryanized” businesses were in the know about their Jewish status beforehand; according to its own historians, the bank was involved in 363 such confiscations by November 1938.

Deutsche Bank provided banking facilities for the Gestapo and loaned the funds used to build the Auschwitz camp and the nearby IG Farben facilities.

In 1999, Deutsche Bank confirmed officially that it had been involved in the Auschwitz camp.

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At 8:30am on 30 November 1989, Alfred Herrhausen, chairman of Deutsche Bank, was killed when a car that he was in exploded while he was traveling in the Frankfurt suburb of Bad Homburg.

In 1995 to greatly expand into international investments and money management, Deutsche Bank hired Edson Mitchell, a risk specialist from Merrill Lynch, who hired two other former Merrill Lynch risk specialists Anshu Jain and William S Broeksmit.

On 4 June 1999, Deutsche Bank merged its Deutsche Morgan Grenfell and Bankers Trust to became Deutsche Asset Management with Robert Smith as the CEO.

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.

Deutsche Bank put risky assets into the CDO, like ACE 2006-HE1 M10, which its own traders thought was a bad bond.

Deutsche Bank 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.

Deutsche Bank 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.

Deutsche Bank was involved with Magnetar Capital in creating its first Orion CDO.

Deutsche Bank worked with John Paulson, of the Goldman Sachs Abacus CDO controversy, to create some START CDOs.

On 3 January 2014, it was reported that Deutsche Bank would settle a lawsuit brought by US shareholders, who had accused the bank of bundling and selling bad real estate loans before the 2008 downturn.

Former employees including Eric Ben-Artzi and Matthew Simpson have claimed that, during the crisis, Deutsche failed to recognise up to $12 billion of paper losses on its $130 billion portfolio of leveraged super senior trades, although the bank rejects the claims.

Deutsche Bank had become the biggest operator in this market, which were a form of credit derivative designed to behave like the most senior tranche of a CDO.

Deutsche Bank 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.

Risk of Deutsche Bank taking large losses if the collateral was wiped out in a crisis was called the gap option.

In 2008, Deutsche Bank reported its first annual loss in five decades, despite receiving billions of dollars from its insurance arrangements with AIG, including US$11.

In 2017, Deutsche Bank needed to get its common equity tier-1 capital ratio up to 12.

Deutsche Bank released a statement confirming it would "cooperate closely with prosecutors".

In March 2021, Deutsche Bank sold about $4 billion of holdings seized in the implosion of Archegos Capital Management in a private deal.

The move helped Deutsche Bank emerge unscathed after Archegos defaulted on margin loans used to build up highly leveraged bets on stocks.

Deutsche Bank is one of the leading listed companies in German post-war history.

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In 2001, Deutsche Bank merged its mortgage banking business with that of Dresdner Bank and Commerzbank to form Eurohypo AG.

In 2005, Deutsche Bank sold its stake in the joint company to Commerzbank.

Deutsche Bank holds a majority stake in the listed asset manager DWS Group, which was separated from the bank in March 2018.

Between 2008 and 2016, Deutsche Bank paid around nine billion dollars in fines and settlements related to wrongdoings across different issue areas.

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 United States sanctions against Iran and other countries.

Deutsche Bank pleaded guilty to wire fraud, acknowledging that at least 29 employees had engaged in illegal activity.

One division at Deutsche Bank had a culture of generating profits without proper regard to the integrity of the market.

Deutsche Bank itself was not convicted due to an absence of corporate liability laws in Germany.

Deutsche Bank has issued a statement addressing the criticism it received from various environmental groups.

In 2019, The Guardian reported that a confidential internal report at Deutsche Bank showed that the bank could face fines, legal action, and even possible prosecution of senior management over the bank's role in the money laundering.

In 2020, it was reported that Deutsche Bank was pursuing an expansion of its Russia operations.

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.

On 22 May 2019, judge Edgardo Ramos of the federal District Court in Manhattan rejected the Trump suit against Deutsche Bank, ruling the bank must comply with congressional subpoenas.

In early 2021, Deutsche Bank elected to discontinue its relationship with Donald Trump following his supporters' insurrection on the United States Capitol.

Deutsche Bank found suspicious transactions in which Epstein moved money out of the United States, The Times reported.

On 19 November 2018, a whistleblower of the Danske Deutsche Bank money laundering scandal stated that a large European bank was involved in helping Danske process $150 billion in suspect funds.

In 2020 it became known that the U S arm of Deutsche Bank processed more than $150 billion of the $230 billion dirty money through New York, for which it was fined 150 million $.

On 20 July 2018, Deutsche Bank agreed to pay nearly $75 million to settle charges of improper handling of "pre-released" American depositary receipt under investigation of the U S Securities and Exchange Commission .

Deutsche Bank didn't admit or deny the investigation findings but agreed to pay disgorgement of more than $44.

In January 2021, Deutsche Bank agreed to pay a U S fine of more than $130 million for a scheme to conceal bribes to foreign officials in countries such as Saudi Arabia and China, and the city of Abu Dhabi, between 2008 and 2017 and a commodities case where it spoofed precious metals futures.

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