articles a month for anyone to read, even non-subscribers! That compares. [4] As of January2019[update], his channel has garnered over 2.6 million subscribers, and his videos have accrued nearly 400 million views. Numerous probes are ongoing. Over the past 2 years, the bank has invested substantially in building its capabilities in Financial Crime Risk management. Deutsche Bank's Joseph Salama was critical in negotiating settlements with global regulators on the bank's behalf, the bank's chief administrative officer said. Among key figures involved in Cum-Ex work at Deutsche Bank, the people said, were Simon Pearson and Joe Penna, former managers who left the bank in 2009. An internal report from Deutsche Bank, written by legal firm Freshfields, indicated that senior management at the German bank was aware of the scheme. Quarterly Results - Deutsche Bank This email has been sent to all employees in Chief Administrative Office today. 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. Oct. 29, 2020, 11:20 AM. 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. In an email to Reuters he said: I have not seen, nor have been provided with any copies of the reports you mention in your communication. College of the Holy Cross - Mid-career pay: $127,100 - Early career pay: $65,600 . German prosecutors say the schemes participants misled the government into thinking a stock had multiple owners on its dividend payday who were each owed a dividend and a tax credit, according to court documents. Prior roles include Americas Head of Litigation and Head of Legal for the Non-Core Operations Unit. DB | Deutsche Bank AG Company Profile & Executives - WSJ investing. Deutsche made at least 18 million. 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. Read More . 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. December 20, 2022. College of the Holy Cross - Mid-career pay: $127,100 - Early career pay: $65,600 - Percent high meaning: 48% . Deutsche Bank ( CEO, 2002-2012) Bank of Cyprus ( Chairman, 2014-2019) 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. He was also a finalist in the "Oreo Global Moments" video competition. Philadelphia, PA. GRAYBAR, +3 more. Reuters does not know whether the Freshfields documents are the final versions, but prosecutors have been given the summary for use in their investigation, according to a letter sent to the chief prosecutor, seen by Reuters. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". In 2008, Pearson was a managing director and Penna a director in Deutsche Banks London-based prime finance unit, according to an investigation the bank commissioned by Freshfields Bruckhaus Deringer LLP into its dealings with Nummus Financial GmbH. 100 colleges whose grads go on to earn the most - sfgate.com PDF PDF (Q1 2018 results) PDF PDF (Ad-hoc release strategy) PDF PDF (Release strategy) PDF PDF (Q2 2018 segment and financial statements structure) XLS (Q2 2018 segment and financial statements structure) PDF PDF. And so Deutsche Bank all of a sudden became one of the most aggressive places to work on Wall Street. Some of the companys units organized shares used by short sellers, cooperating with staff remaining at Deutsche Bank who are also being investigated, according to the people. Contact. It was shot in Iceland and stars Mads Mikkelsen. Deutsche Bank also had a profit-sharing agreement with Ballance in 2009 and 2010 under which it received 30% to 50% of the money the asset manager made, according to people familiar with the findings of the Cologne probe. NEW YORK, May 18 (Reuters) - Deutsche Bank (DBKGn.DE) 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. For CEO Christian Sewing, whos trying to turn the tide at Germanys biggest bank after years of painful missteps, the escalation couldnt come at a more precarious time. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. What we do - Deutsche Bank Deutsche Bank's Top Executives Embroiled in German Tax Scandal Subject to regulatory approvals, Salama will succeed Stephan Wilken on July 1, Stefan Simon, Deutsche Bank's Chief Administrative Officer, said in the memo. Jnatas "Joe" de Moura Penna (born May 29, 1987) is a Brazilian musician and filmmaker best known from both his YouTube channel MysteryGuitarMan and his feature films. [14], In June 2010, Penna was highlighted by CNN Money on their Best Jobs series. "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? Joe Penna - Wikipedia I was not personally involved in any Cum-Ex activity, and I am very confident that the investigation will show no personal wrongdoing by me, Ritchie said in an email sent by the bank. A spokesman for Freshfields declined to answer any questions for this story. Carson has since left Deutsche Bank. A Deutsche Bank executive is suing a son and a brother of Delaware Sen. Joe Biden for at least $10 million over a deal they had to buy into a hedge fund, according to court documents. Search Roles - Deutsche Bank Careers Deutsche Bank. Engage via Email. From raising children, to caring for family members, taking a career break can be challenging, but these experiences away from the office can expand skill sets and widen perspectives. Germany . Find other Joe Pennas on Spoke Contact Telephone Email Background Report Public Records powered by Digital Info Resume EDIT CAREER Deutsche Bank EDIT EDUCATION Blogs By Industry Voices Achievements and Recognition View Joe Pehar's profile on LinkedIn, the world's largest professional community. What is your availability? Will Covid-19 be an opportunity or threat to sustainable development? Ballance controlled several entities which have been disbanded or renamed, according to filings with the Britains financial regulator, the Financial Services Authority, seen by Reuters. They worked with companies wanting to invest in the scheme as well as the divisions at Deutsche Bank that were responsible for loaning cash. Joe Salama succeeds him as bank's Americas general counsel. Audits reveal Deutsche Bank's links to tax scandal Joe Ravi // Shutterstock #89. 60+ "Joe Penna" profiles | LinkedIn College of the Holy Cross Updated 42 min ago - Mid-career pay: $127,100 - Early career pay: $65,600 . The audits were prepared by Freshfields in Germany and London. 'Dark Towers' Goes Inside Deutsche Bank, The Company That Holds - NPR [11] Shortly after, Penna was selected as one of the top 10 new directors at the 20th Cannes Lions Saatchi & Saatchi New Directors' Showcase. How can companies and decision-makers reset for growth beyond corona virus. Full List", https://en.wikipedia.org/w/index.php?title=Joe_Penna&oldid=1131180368, Brazilian expatriates in the United States, Short description is different from Wikidata, Articles containing potentially dated statements from January 2019, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, Guitar, bass guitar, drums, keyboards, vocals, This page was last edited on 2 January 2023, at 23:15. Serivas manager, who asked not to be named, said that the company had received no rebates because of the investigation by tax authorities. Reuters claims that Pearson and Penna acted as middlemen in these deals. 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. Penna did not respond to a letter requesting comment sent to his home in London. On how CEO Josef Ackermann's leadership changed the bank in 2002 Planet Money Episode. Other global banks, including Santander and Macquarie, are also under investigation for their roles in cum-ex trading schemes. I want to work. 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. Sign Up. Freshfields said in the report that staff at Deutsche and Seriva were aware that no withholding tax had been levied. He resides in Los Angeles, California. Cologne prosecutors are still probing the banks activities related to other investors and declined to comment. 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. 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. Pearson and Penna have been suspects in the investigation since at least 2014 for their role in cum-ex trading, according to court documents. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. He served as chairman of the board from 2002 to 2012. He is succeeding Stephan Wilken who held this responsibility since October 2018. Copyright 2023 "Finance Magnates CY Ltd." All [10] Penna's "Guitar: Impossible" video was also featured by YouTube as one of the best videos of 2009. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars worth of criminally derived money are laund The bank granted the new client a credit rating, and as part of its prime brokerage arrangement, provided 15- to 20-fold leverage on the funds capital of 32.7 million euros, the report said. Joe Ravi // Shutterstock #89. Deutsche Bank AG has a new leader for its U.S. entities in Steven Reich, previously general counsel for the Americas at the German . Reuters, Saturday, March 04, 2023 | The bulk of the trading involved that facilitated the scheme took place between 2006 and 2011. February 18 2016 07:44 AM It's hard to keep up with Georgia Penna. 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. [8] On December 6, 2009, Penna was featured on FM4, an Austrian national radio station. Investments in improving data and technology continue. Steven Reich is now CEO of Deutsche Bank Trust Co. Americas. Contact Head Office U.S.A. Deutsche Bank One Columbus Circle New York, NY, 10019 Telephone: +1(212) 250-2500 Joe Penna Profiles | Facebook Dealmaking helps Deutsche Bank land biggest profit in a decade Deutsche Bank 24 years 4 months Managing Director - Structured Finance - Head of West Coast Deutsche Bank . For example, Deutsche Bank issued a company called Seriva with 5.8 million euros of tax certificates, allowing the firm to make claims for tax rebates. Joe Salama will split his time between Frankfurt and the U.S., as the bank tries to keep a close relationship with U.S. authorities Germany's Deutsche Bank has run into problems with. Further documents: Annual Financial Statements and; Financial Data Supplement Q4 / Full-year He was born in Walenstadt,[1] Canton of St. Gallen, Switzerland, raised in Mels in a Catholic home,[2] and is a graduate of the University of St. Gallen (HSG). Deutsche Bank appoints U.S. general counsel to head anti-financial In 2009, Penna was again seen on the front page of YouTube with his video Guitar: Impossible, which has been covered by De Wereld Draait Door, the highest-rated primetime show in the Netherlands. Stephan and his team has developed, and commenced implementation of, the banks AFC Strategy to address the foundational requirements for robust financial crime risk management. 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 A person involved in the case gave Reuters the name of a lawyer he said represented Pearson and Penna. Joe Penna. content 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. (Charles W. Lamb; Carl McDaniel; Joe F. Hair) Business-To-Business Marketing (Robert P. Vitale; Joseph Giglierano; Waldemar Pfoertsch) Cognitive Psychology (Robert . For over a decade, one of the biggest financial scandals in German history has been snaking its way through Deutsche Bank AG. The change will be effective as of July 1st to ensure a smooth transition. Deutsche Bank (DBKGn.DE) 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 . 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. This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. PDF Presentation Fixed Income Call. The industry leader for online information for tax, accounting and finance professionals. Results: 4934. [13] A year later, Penna directed and starred in yet another commercial for the two companies. Contact - Deutsche Bank Deutsche Bank acted as the prime broker for several Cum-Ex investors that were Ballance clients, according to the probes findings. Barclays Capital, and Deutsche Bank. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europe's Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Deutsche issued Seriva with 5.8 million euros of withholding tax certificates, allowing Seriva to make claims for tax rebates. Authorities grew suspicious and refused to pay Nummus any tax refunds, according to a public filing. [15], His stop-motion short film Guitar: Impossible was selected to be displayed at the Guggenheim museum. Bank provided services to clients exploiting tax loophole, Lender says it never directly participated in Cum-Ex deals. Germany's largest lender has been the subject of numerous regulatory and legal investigations over the past decade. Husband of model Salpa embroiled in German share-trading scandal Total losses from the Cum-Ex trade across Europe have been estimated at 55 billion; Joe Penna was a key figure in the Deutsche Bank unit financing the controversial transactions Barry J Whyte June 23, 2019 Irish model Georgia Salpa with her husband Joe Penna Picture: Xposure AFC has also worked closely with the businesses to formulate a target operating model which permit our business partners to actively manage our financial crime risks. After leaving university Ackermann went to work in 1977 for the Swiss multinational investment bank Credit Suisse, which he left in 1996. Joe Pena's Phone Number and Email Last Update. They are dated from 2013 to 2015 and marked highly confidential. Ballance also hired several other Deutsche Bank employees to work on the Cum-Ex deals. The spokesman for Deutsche Bank declined to comment. Found email list ings include: j***@db.com. How cloud technology is silently revolutionising our economy. 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.". Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. 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. Our Standards: The Thomson Reuters Trust Principles. [20], In March 2016, his short film Turning Point was selected to play at the Tribeca Film Festival.[21]. Joe will be based in Frankfurt and in New York to ensure close collaboration with all our regulators. He has also been a member of the influential Washington-based financial advisory body, the Group of Thirty. He resides in Los Angeles, California. Joe Pena works at Deutsche Bank, which is a Banking company with an estimated 83,000 employees. [22][23] Arctic garnered enthusiastic reviews as an Official Selection for the 2018 Cannes Film Festival. The Digital Side Of Deutsche Bank That You Have Not Heard About - Forbes One of the five documents is a summary that was handed to the prosecutors in May 2017. 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Deutsche Bank used tools in its Data Lab in Ireland and open source libraries to mine the bank's information for opportunities. I am pleased to announce that the Management Board has appointed Joe Salama as Global Head of Anti-Financial Crime (AFC) and Group Anti Money Laundering Officer. 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. The Deutsche Bank spokesman declined to comment. Penna maintains the YouTube channel MysteryGuitarMan. According to a Reuters report published on Friday, the German bank misled authorities into thinking that certain stocks had multiple owners. It garnered international attention. In June 2019, Penna began shooting on the sci-fi movie Stowaway starring Anna Kendrick and Toni Collette.[25]. Salama has been with the bank for more than ten years and currently serves as global head of litigation and regulatory enforcement, as well as general counsel for the Americas. Group Tax confirmed in March 2009 the provision of leverage for cum-ex trades through Deutsche Bank.. 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. A German probe found that Deutsche Bank even had a profit-sharing agreement with one firm that specialized in the transactions, according to people familiar with the findings. Contacted for this story, spokesmen for both banks said they are cooperating with investigators. A series of internal audits commissioned by Deutsche Bank and carried out by Freshfields looks at the bank's loans to companies that carried out this type of trade. Money Laundering May 20, 2021 at 03:29 PM. Many of you know him as a great team player across the regions and a true culture carrier. Attempts to reach Penna were unsuccessful. The German bank is embroiled in a probe into the cum-ex trades, a dividend-stripping technique used to avoid paying taxes. For CEO Christian Sewing, whos trying to turn the tide at Germanys biggest bank after years of painful missteps, the escalation couldnt come at a more precarious time. Our Standards: The Thomson Reuters Trust Principles. Deutsche Bank Picks U.S. General Counsel to Head Anti-Financial - WSJ Saint Joseph's University, +1 more. German tax authorities say that the scheme, which also involved several other global firms including Santander and Macquarie, cost them a total of 5.6 billion ($6.36 billion). Photographer: Krisztian Bocsi/Bloomberg Please join me in thanking Stephan for his work and wishing Joe all the best in his new role. People named Joe Penna. Among key figures involved in Cum-Ex work at Deutsche Bank, the people said, were Simon Pearson and Joe Penna, former managers who left the bank in 2009. [24] Its theatrical premiere was on February 1, 2019. Josef Ackermann - Wikipedia j***@db.com. There are lots of indications that some managers discussed the reputational risks of Deutsche Banks involvement in a share-trading scheme that is the subject of Germanys biggest post-war fraud investigation, according to a conclusion in one of five internal audits. Deutsche Bank Elevates Top Americas Lawyer to Trust Company Role
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