Mary Jo White, President Barack Obama’s choice to run the U.S. Securities and Exchange Commission, told lawmakers that her work for Wall Street firms won’t affect her ability to be a zealous advocate for investors.
Deutsche Bank AG is considering reducing bonuses for investment bankers in Europe by as much as 20 percent on average for 2012, while bankers in New York will see smaller declines, said four people briefed on the matter.
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.