Deutsche Bank AG’s Frankfurt headquarters were raided today as part of a new probe of fraud allegations related to lawsuits filed by the late Leo Kirch while the third top executive was put under investigation.
Deutsche Bank AG , Germany’s biggest bank, said it expects a fund started in the first quarter aimed at easing financing for small and mid-sized businesses in the country to make its first payments this year.
When Josef Ackermann called on lenders to help bail out Greece last month, the Deutsche Bank AG chief executive officer had already cut his potential losses from the crisis spreading to Italy and Spain.
German lenders’ claims on the Greek public sector declined 42 percent in the 12 months through February if loans from the federal government’s KfW Group development bank are excluded, according to Bundesbank data.
Deutsche Bank AG Chief Executive Officer Josef Ackermann is “one of the most dangerous bank managers in the world” because he’s sticking to the company’s high profitability target, Simon Johnson , a former chief economist at the International Monetary Fund, was cited as saying by German newspaper Die Tageszeitung.
With speculation reviving over who will succeed Josef Ackermann as chief executive officer of Deutsche Bank AG , the company will have to decide how German the leader of Germany’s biggest bank must be.