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Deutsche Bank Puts Exec on Leave Over Kaupþing Links

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Deutsche Bank Puts Exec on Leave Over Kaupþing Links

Money - Icelandic Króna

Photo: Páll Kjartansson

Deutsche Bank is believed to have put both its Asia heads of corporate finance on leave—though apparently for unrelated reasons.

One of them is on leave over alleged market manipulation in 2008 when he worked in Western Europe, Bloomberg reports.

Deutsche Bank sold USD 700 million worth of credit-linked notes to two British companies closely linked to Kaupþing Bank, the Icelandic banking giant which collapsed later that year.

Since that collapse, claims for capital recovery have been made against Deutsche Bank, which is defending itself against the claims.

By putting the executives on leave, the bank is outwardly admitting something went wrong, but also attempting to show responsibility and self-regulation, an analyst said.

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