After receiving the final report of the investigation, that the law firm Cleary Gottlieb Steen & Hamilton in Frankfurt has conducted on its behalf, Deutsche Bank today presented its key results and first steps of corrective and disciplinary action.
The investigation involved questionable investigative or surveillance activities which originated in the Bank's Corporate Security Department going back as far as 1998.
The principal findings by the law firm are as follows:
Deutsche Bank has informed all persons affected by the aforementioned activities (with the exception of the private individual whose whereabouts are unknown) and expressed its sincere regrets.
The Bank has initiated steps to strengthen controls for the mandating of external service providers by its Corporate Security Department and their activities. The Bank has also terminated the contracts with the Head of Corporate Security for Germany and the Global Head of Investor Relations, who were involved in the incidents.
Prior to giving a full report of the events, making a final judgment on the aforementioned incidents and taking further corrective action the Bank intends to await the completion of the still ongoing investigations by the BaFin, the Data Protection Authorities of the State of Hessen and the Frankfurt State Prosecutors’ Office.
For further information, please contact:
Press and Media Relations
Michael Golden (London)
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Ronald Weichert (Frankfurt)
+49 69 910 38664
+49 69 910 35395 (Frankfurt)
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Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,277 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
This release also contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
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