Deutsche Bank

The bank believes its U.S. unit will pass this year’s stress test but Fed restrictions will stay; COO is the second member of CEO’s inner circle to leave.

Deutsche Bank is being investigated by U.S. federal authorities for potential lapses in money laundering compliance, The New York Times reported, citing unidentified people with knowledge of the inquiry.

Banks shouldn’t have trouble this year, but the rules may change next year; U.S. authorities are probing possible AML compliance violations at the German bank.

Deutsche Bank Chief Executive Christian Sewing is planning sweeping changes to his top management, considering replacing finance chief James von Moltke and investment banking head Garth Ritchie, as he purges executives who rose under his predecessor.

The German banking giant is also looking to create a "bad bank" to wind down as much as $56 billion in unwanted assets, according to a person familiar with the matter.

The bank is looking to combine several units that invest in income-producing assets; increased scrutiny has led banks to address the risks of climate change.

Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results.

Despite tension between the U.S. and trading partners, bank are doing booming business in financing cross-border commerce; some Republican lawmakers are getting antsy at the pace of rollbacks for bank regulations, and are pushing regulators for a sense of urgency.

The seven Democrats sought details on the Fed's response to allegations the bank suppressed suspicious activity reports on businesses tied to President Trump and Jared Kushner.

The chief operating officer for the Americas at Deutsche Bank, as well as SoFi's heads of marketing, risk and capital markets, are all moving on; John Williams tells bankers they need to do more to clean up misconduct at their companies.