Deutsche Bank exec put on leave after China fund probe: sources
Add BT as a preferred sourceHong Kong
DEUTSCHE Bank AG put its co-head of Asian corporate finance on leave earlier this year after an internal investigation of fund transfers to the German bank's securities joint venture in China, people familiar with the situation said.
The bank's compliance department found evidence that indicated that Douglas Morton had allocated revenue to Zhong De Securities Co for at least one deal that the Chinese firm hadn't worked on, according to the people, who asked not to be identified because the matter is private. Mr Morton had been seeking to bolster revenue at the loss-making joint venture, the people said.
TRENDING NOW
DBS COO’s most important tip for AI transformation: Lead with ‘why’
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
