People and Business: Bank raid
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.DEUTSCHE BANK is having a miserable time of it, what with cross- dressing fund managers at Morgan Grenfell Asset Management, a $750m exposure to Russia, claims related to World War Two and so on.
Now a former executive in Deutsche's Moscow office is suing the giant bank for pounds 23m.
Jochen Wermuth was head of capital markets in Moscow until the rouble devaluation crisis struck last year. Then Deutsche, like scores of other western banks and accountancy and law firms, took an axe to its Moscow headcount, which had been built up in the previous boom times.
Mr Wermuth was made redundant two months after Russia reneged on its western debts.
He was paid a basic of over pounds 200,000 a year, but he claims he could have earned bonuses of up to pounds 20m. Deutsche refused to comment.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments