Deutsche Bank's compliance in for bumpy journey: executive
Reuters
Published Sep 23, 2016 05:28AM ET
Updated Sep 23, 2016 05:40AM ET
Deutsche Bank's compliance in for bumpy journey: executive
FRANKFURT (Reuters) - Deutsche Bank (DE:DBKGn) still needs time to improve compliance and clamp down on the malpractice that has cost it billions of euros in fines, the executive in charge of the effort said.
"I need at least another year or so to complete the set up," Chief Regulatory Officer Sylvie Matherat told Reuters in an interview published on Friday, adding that by year-end the bank will employ 2,200 people in compliance and anti-financial crime, 60 percent more than in 2014.
Nine years after the financial crisis broke, Deutsche Bank is still struggling to put in place new structures to prevent the lender from being ensnared in fresh scandals and costly litigation.
"If you really want to solve a problem in a sustainable manner, it will take longer and will be more difficult," Matherat said.
"The current management team is trying not to do quick fixes. It's much better to clean up properly. But that takes time and the journey can sometimes get a bit bumpy," she added.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.