He served as chairman of the board from 2002 to 2012. [8] On December 6, 2009, Penna was featured on FM4, an Austrian national radio station. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. , Bloomberg. A German lawyer for Pearson declined to comment. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Josef Meinrad Ackermann (born 7 February 1948) is a Swiss banker, former Chairman of the Bank of Cyprus, and former chief executive officer of Deutsche Bank. [13] A year later, Penna directed and starred in yet another commercial for the two companies. Last year, Deutsche Bank settled a probe by Frankfurt prosecutors into the Nummus work for 4 million euros. Reuters claims that Pearson and Penna acted as middlemen in these deals. [14], In June 2010, Penna was highlighted by CNN Money on their Best Jobs series. Germany's largest lender has been the subject of numerous regulatory and legal investigations over the past decade. He declined to comment further. February 18 2016 07:44 AM It's hard to keep up with Georgia Penna. Joe has been with the bank for more than 10 years and currently serves as Global Head of Litigation & Regulatory Enforcement and General Counsel for the Americas. Found email list ings include: j***@db.com. In November 2014 he was elected as chairman of the board of directors of the Bank of Cyprus following the proposal of the new major shareholder of the bank Wilbur Ross, who later became the Commerce Secretary in the Trump Administration. Deutsche Bank has appointed Joe Salama, its U.S. general counsel, as global head of anti-financial crime (AFC) and group anti money laundering officer, the bank said in a memo to employees on Tuesday. Email. Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. I also want to thank Stephan for his great contributions. [15], His stop-motion short film Guitar: Impossible was selected to be displayed at the Guggenheim museum. A Corporate Bank as hub for corporate and commercial clients. In February 2017, Penna began production of his directorial debut feature film, Arctic. Pearson did not respond to multiple emails sent to him at his new company in Gibraltar. It was shot in Iceland and stars Mads Mikkelsen. Our Standards: The Thomson Reuters Trust Principles. The controversial transactions -- widely reported to have cost German taxpayers more than 10 billion euros -- involved the sale of borrowed shares just before a company was due to pay a dividend. [18], In August 2014, Penna was announced as the host of Xploration Earth 2050, a technology-oriented television series. [10] Penna's "Guitar: Impossible" video was also featured by YouTube as one of the best videos of 2009. The documents, seen by Reuters, suggest that Deutsche traders discussed the associated reputational risk and concluded that it was acceptable, although they add that the evidence is "not clear-cut.". Like(s), Event Engage via Email. Joe Salama succeeds him as bank's Americas general counsel. They are dated from 2013 to 2015 and marked "highly confidential". Results: 4934. [4] As of January2019[update], his channel has garnered over 2.6 million subscribers, and his videos have accrued nearly 400 million views. Carson has since left Deutsche Bank. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. After Penna and Pearson joined Ballance, Pearson maintained close ties with his former employer. /marketintelligence/en/news-insights/trending/bNfD9yUmwF2-mqAqA1EEoQ2 Contact Head Office U.S.A. Deutsche Bank One Columbus Circle New York, NY, 10019 Telephone: +1(212) 250-2500 Pearson and Penna have been suspects in the investigation since at least 2014 for their role in cum-ex trading, according to court documents. Editing by Peter Graff, US Justice Dept warns of steeper penalties for firms that fall foul of messaging policies, Analysis: US Republicans aim to stymie gun sale codes at state level, Factbox: A look at proposed US state laws to curb new gun merchant code, Biden administration announces plan to stop water plant hacks, American Airlines, flight attendants union seek mediation in contract negotiations, Media report that UAE considering leaving OPEC not true - sources, Private equity firms lend less as demand cools, Nissan and Mexican workers agree to 9% raise at Morelos plant, union says, Brazil's Petrobras faces legal risks after halting asset sales -lawyers, Exclusive news, data and analytics for financial market professionals. Under his leadership, the AFC team has demonstrated significant progress in the fight against financial crime. People named Joe Penna. The German bank is embroiled in a probe into the cum-ex trades, a dividend-stripping technique used to avoid paying taxes. In 2007, Penna was one of the first YouTube channels to receive mainstream media coverage, including attention from DC Fox News,[7] after his video The Puzzle was featured on the front page of YouTube. City. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, iPhone Maker Plans $700 Million India Plant in Shift From China, S&P 500 Notches Best Week Since Late January: Markets Wrap, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, Zoom Abruptly FiresPresident Greg Tomb Without Cause. Report: Internal Deutsche audit details links to 'cum-ex' scandal, Banking Essentials Newsletter: Feb 22nd Edition, Wells Fargo Securities Now Available in S&P Globals Aftermarket Research Collection, A Central Bank Gains Market Intelligence to Support its Supervision and Stability Roles, According to Market Intelligence, February 2023. In March 2019 the New York Times reported that Ackermann was aware of the business dealings between the New York branch of the bank and Donald Trump. Group Tax confirmed in March 2009 the provision of leverage for cum-ex trades through Deutsche Bank. A Deutsche Bank spokesman said that Deutsche Bank was involved in some of its clients cum-ex transactions and that it was fully cooperating with investigators. They are dated from 2013 to 2015 and marked highly confidential. Further documents: Annual Financial Statements and; Financial Data Supplement Q4 / Full-year Deutsche Bank is just one of many firms tied to the scandal, and the company maintains it didnt act as a buyer or seller in the Cum-Ex deals. [12], Following the success of the original, Penna and the original cast were hired to produce a national television and cinema spot for Coca-Cola and McDonald's. "Fantstico: Brasileiro larga a medicina e ganha dinheiro fazendo vdeos no YouTube", "Joe Penna / MysteryGuitarMan about page", "Amazing Stop Motion T-Shirt War (VIDEO)", "Saatchi & Saatchi New Directors Showcase Bows in Cannes Extreme Reach", "YouTube and Guggenheim showcase video artists", "CNN YouTube search for most creative videos", "MysteryGuitarMan Joe Penna Brings Interactive Thriller To Rides.tv", "MysteryGuitarMan is the latest YouTube star to get his own TV show", "Mads Mikkelsen To Star In Thriller 'Arctic' From Armory Films", "Mads Mikkelsen on Surviving the Polar Wilderness in 'Arctic', "Cannes Film Festival 2018: Spike Lee, Jean-Luc Godard, Jafar Panahi In Competition; Whither Von Trier? [10], Media related to Josef Ackermann at Wikimedia Commons. PDF Transcript Fixed Income Call. Pearson and Penna, the two Deutsche Bank traders, left to work for Ballance in 2009, when they became part owners, according to the Freshfields documents. Prosecutors have been conducting a criminal probe into some of the biggest names in European and U.S. finance, looking at the roles played by banks, law firms and others. Some Deutsche Bank managers may have discussed the reputational risk of issuing withholding tax certificates at the center of a One part of the audit addresses Deutsche Banks decision to lend money to companies what the audit calls provision of finance -- so that those companies could carry out cum-ex trades and the discussion of risks to its reputation. Will greater investment in water resources make for a more sustainable future? German authorities say that dozens of banks and brokerages in London and other global financial hubs helped investors siphon off billions of euros from the national treasury with the transactions over the course of a decade. It was reported in December 2018 that Deutsche had agreed to pay 4 million to settle an investigation by Frankfurt prosecutors into its involvement in the so-called cum-ex trades. He registered the channel on June 16, 2006. Reuters received no response to two emails sent to his company. White House: Unacceptable for states to target access to federally approved abortion pills, LabMD loses lawsuit accusing FTC of conspiring in hacking, Reporting by Matt Scuffham Deutsche Bank announces additional measures to reinforce net zero commitment, Deutsche Bank and WWF agree on cooperation, A message from Christian Sewing on our full-year results 2022, Deutsche Bank reports 2022 profit before tax of 5.6 billion, Deutsche Bank publishes 2023 SREP requirements, Christian Sewing: "We need an Agenda 2030 for Europe", Global Advisory Board to advise Deutsche Bank on key trends in business and politics, A message from Christian Sewing on Q3 results 2022, Copyright 2023 Deutsche Bank AG, Frankfurt am Main, 0 Two traders, Simon Pearson and Joe Penna, appear to have been the key figures involved in enabling the scheme to take place. The April 16 report said that the banks controls over the trading desk headed by Pearson were too weak and this was a serious shortcoming. It garnered international attention. See here for a complete list of exchanges and delays. Deutsche also provided funding and acquired shares to help a company called Ballance carry out cum-ex deals multiple times between 2009 and 2011, the Freshfields documents say. [6], According to the Financial Times Deutschland Ackerman earned 9.4million in 2009 and 8.8million in 2010. Search Reset. Joe Penna, the husband of Irish model Georgia Salpa, has been caught up in a share-trading scandal that may have cost German taxpayers billions of euro. Two traders, Simon Pearson and Joe Penna, seem to have been the key figures that triggered the plan initially and dragged along with others. The audit dated April 16, 2015 pointed to significant failings in overseeing two traders, Simon Pearson and Joe Penna, who they say acted as middle men between the clients and the bank departments that lent money to fund the cum-ex scheme and issued tax certificates. Steven Reich is now CEO of Deutsche Bank Trust Co. Americas. Stephan will assume a new responsibility within our bank, which we will announce in due course. Even though evidence is not clear-cut, there are a lot of indications that the staff of SETG (Strategic Equities Transactions Group) and managers, who were responsible for Prime Brokerage at the SEF-IM (Structured Equity Finance - Inventory Management) trading desk, discussed the reputational risk for Deutsche Bank from its provision of finance in January 2009 and came to the conclusion that this was acceptable, one of the Freshfields audits said. Serivas manager, who asked not to be named, said that the company had received no rebates because of the investigation by tax authorities. Penna maintains the YouTube channel MysteryGuitarMan. A Deutsche Bank spokesman said that Deutsche Bank was involved in some of its clients cum-ex transactions and that it was fully cooperating with investigators. Deutsche Bank commissioned law firm Freshfields to write the five audits as part of an internal investigation into its role in cum-ex trading between 2006 and 2011. Are sustainable cities a solution to climate change? Deutsche Bank will no longer do business with President Donald Trump, a move that will cut off his business from a major source of loans that once helped fund his golf courses and hotels. The information you requested is not available at this time, please check back again soon. In June 2019, Penna began shooting on the sci-fi movie Stowaway starring Anna Kendrick and Toni Collette.[25]. What does it take to make bold moves in business? Karin Matussek and Donal Griffin, Bloomberg News, Josef Ackermann, former chief executive officer of Deutsche Bank AG, looks on before addressing the Sueddeutsche Zeitung Economic Summit in Berlin, Germany, on Thursday, Nov. 17, 2016. Global Head of Litigation and Regulatory Enforcement. Over the past 2 years, the bank has invested substantially in building its capabilities in Financial Crime Risk management. It has not been a good couple of months for Deutsche Bank. investing. In recent years, Joe has negotiated almost all of our major AFC-related legal settlements and has been a key contact for our monitors as well as for regulators and enforcers worldwide. Senior Sales Representative Comm/Data at Graybar. According to a Reuters report published on Friday, the German bank misled authorities into thinking that certain stocks had multiple owners. That criticism about oversight is leveled at management generally but it does briefly single out one individual. The bank issued tax certificates for withholding tax that had never been deducted and made loans to clients to allow them to participate in the scheme to claim tax rebates, according to the audits. All quotes delayed a minimum of 15 minutes. or. May 20, 2021 at 03:29 PM. Deutsche Bank launched its US intermediate holding company, DB USA Corporation, on July 1, 2016, under which most of its US-based operations were consolidated as required by the Dodd-Frank Act. Privacy Notice Regulators around the world vigilantly monitor the progress we have made, and we are working diligently to comply with the requirements. Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space.