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Deutsche Bank to have former executives pay for past misconduct - chairman

Reuters  |  FRANKFURT 

FRANKFURT (Reuters) - expects former board members to pay substantial sums for their role in misconduct that threw Germany's flagship lender into turmoil, supervisory board Chairman Paul Achleitner said on Thursday.

At the lender's annual general meeting he told shareholders that the supervisory board and two committees had been discussing the need for personal and collective responsibility for past deeds.

The has sought extensive external legal advice on this, he added.

"The supervisory board expects that in the coming months, there will be an arrangement which ensures that the individuals involved make a substantial financial contribution," Achleitner said.

While no decision has been reached yet, he said, discussions are advanced. He did not name names.

(Reporting by Tom Sims and Arno Schuetze; Editing by Maria Sheahan)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Deutsche Bank to have former executives pay for past misconduct - chairman

FRANKFURT (Reuters) - Deutsche Bank expects former board members to pay substantial sums for their role in misconduct that threw Germany's flagship lender into turmoil, supervisory board Chairman Paul Achleitner said on Thursday.

FRANKFURT (Reuters) - expects former board members to pay substantial sums for their role in misconduct that threw Germany's flagship lender into turmoil, supervisory board Chairman Paul Achleitner said on Thursday.

At the lender's annual general meeting he told shareholders that the supervisory board and two committees had been discussing the need for personal and collective responsibility for past deeds.

The has sought extensive external legal advice on this, he added.

"The supervisory board expects that in the coming months, there will be an arrangement which ensures that the individuals involved make a substantial financial contribution," Achleitner said.

While no decision has been reached yet, he said, discussions are advanced. He did not name names.

(Reporting by Tom Sims and Arno Schuetze; Editing by Maria Sheahan)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Business Standard
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Deutsche Bank to have former executives pay for past misconduct - chairman

FRANKFURT (Reuters) - expects former board members to pay substantial sums for their role in misconduct that threw Germany's flagship lender into turmoil, supervisory board Chairman Paul Achleitner said on Thursday.

At the lender's annual general meeting he told shareholders that the supervisory board and two committees had been discussing the need for personal and collective responsibility for past deeds.

The has sought extensive external legal advice on this, he added.

"The supervisory board expects that in the coming months, there will be an arrangement which ensures that the individuals involved make a substantial financial contribution," Achleitner said.

While no decision has been reached yet, he said, discussions are advanced. He did not name names.

(Reporting by Tom Sims and Arno Schuetze; Editing by Maria Sheahan)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22