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Deutsche's investment bank head stresses controls to remain "boring"

Deutsche's investment bank head stresses controls to remain "boring"
Deutsche's investment bank head stresses controls to remain "boring"   -   Copyright  Thomson Reuters 2021
By Reuters

FRANKFURT – The head of Deutsche Bank’s investment bank, Mark Fedorcik, on Tuesday stressed that the division was focused on internal controls to make sure the lender remains “boring”.

Deutsche’s controls for money laundering and other issues in recent years have come under the scrutiny of regulators, putting pressure on Germany’s largest lender to make changes.

Fedorcik told a virtual banking conference that focusing on know-your-customer controls, reputation risk, transaction monitoring and reviewing whether clients are the kind the bank seeks were a crucial pillar in the division’s turnaround.

“Controls matter,” he said, adding that they would make the investment bank “boring”.