Deutsche Bank gifts hedge fund $6bn by mistake
21 October 2015 Frankfurt
Image: Shutterstock
Deutsche Bank accidentally gave $6 billion to the wrong client, according to reports.
A junior member of the investment bank’s foreign exchange sales team reportedly made the error in June.
The full amount was sent to a US hedge fund client but was recovered the next day.
The German bank has had to deal with a large number of legal and financial scandals and is currently in the process of a major reshuffle of senior management to address investors’ concerns.
A junior member of the investment bank’s foreign exchange sales team reportedly made the error in June.
The full amount was sent to a US hedge fund client but was recovered the next day.
The German bank has had to deal with a large number of legal and financial scandals and is currently in the process of a major reshuffle of senior management to address investors’ concerns.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
