Deutsche Bank to have former executives pay for past misconduct - chairman

Last Updated: Thu, May 18, 2017 13:52 hrs
The logo of Deutsche Bank is seen at its headquarters ahead of the bank's annual general meeting in Frankfurt

FRANKFURT  - Deutsche Bank expects former board members to pay substantial sums for their role in misconduct that threw Germany's flagship lender into turmoil, supervisory board Chairman Paul Achleitner said on Thursday.

At the lender's annual general meeting he told shareholders that the supervisory board and two committees had been discussing the need for personal and collective responsibility for past deeds.

The bank has sought extensive external legal advice on this, he added.

"The supervisory board expects that in the coming months, there will be an arrangement which ensures that the individuals involved make a substantial financial contribution," Achleitner said.

While no decision has been reached yet, he said, discussions are advanced. He did not name names.

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