According to the Bloomberg news portal, Deutsche Bank AG is said to have fired several New York managers for alleged compliance violations. Reason: They reportedly booked the bill for a visit to a strip club as a business expense. They are said to have included Ben Darsnesy, former head of Equity Capital Markets, Ravi Raghunathan, CEO, and Brandon Sun and Daniel Ganoa. According to Bloomberg, the managers presented the visit as a visit to a restaurant and asked that their names remain anonymous because they were discussing a private matter.
“Deutsche Bank is investigating allegations of potential wrongdoing comprehensively and impartially,” a bank spokesperson said in an email to Bloomberg. “We do not condone violations of our code of conduct or company policies and will take appropriate corrective action depending on the severity of the circumstances.” The bank and those affected declined to comment further on the circumstances of the matter.
After a series of mishaps, Christian Sewing, CEO of Deutsche Bank, wants to tighten controls within the company. The bank recently violated a prosecution agreement with the US Department after being slow to respond to a whistleblower’s claims. An existing monitoring agreement was extended until February 2023.