Deutsche Bank. Joe Penna Deutsche Bank Alias or nickname Find other people named Joe Pennas General Info at Deutsche Bank Not who you're looking for? Copyright 2023 "Finance Magnates CY Ltd." All On this Wikipedia the language links are at the top of the page across from the article title. Engage via Email. Attempts to reach Penna were unsuccessful. All quotes delayed a minimum of 15 minutes. Democratizing Investing: A Revolution in the Making? [5], On September 11, 2005,[6] Penna launched a second YouTube channel, where he uploads his making-of videos and vlogs. Find your friends on Facebook. Regulators around the world vigilantly monitor the progress we have made, and we are working diligently to comply with the requirements. Some Ballance units were dissolved. In order for the scheme to work, Deutsche Bank would loan money to firms which would then make trades which, in turn, they could then claim tax credits on. News. News. American Airlines and its flight attendants union on Friday jointly applied for federal mediation in contract negotiations. Deutsche made at least 18 million. The Annual Report 2021 includes an overview of Deutsche Bank, the management report with the compensation report, the bank's audited consolidated financial statements, the corporate governance statement and supplementary information. Many of you know him as a great team player across the regions and a true culture carrier. 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. A person involved in the case gave Reuters the name of a lawyer he said represented Pearson and Penna. 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. /marketintelligence/en/news-insights/trending/bNfD9yUmwF2-mqAqA1EEoQ2 Log in or sign up for Facebook to connect with friends, family and people you know. 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. 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. One of the five documents is a summary that was handed to the prosecutors in May 2017. [11] Shortly after, Penna was selected as one of the top 10 new directors at the 20th Cannes Lions Saatchi & Saatchi New Directors' Showcase. 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. Numerous probes are ongoing. 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. Others, which were renamed, dont have listed phone numbers. 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. Copy of Case 1 Did Info Systems Cause Deutsche Bank to Stumble; ECON 208 - Final Study Guide; Solomon Consumer Behaviour Chap 1 test bank; Sample/practice exam 2016, questions . Nummus went through a customer acceptance procedure, with Deutsche Banks legal department reviewing the contracts and the credit risk management unit conducting due diligence, including a review of the business model and the trading strategy, according to the report. Joe Pena's Phone Number and Email Last Update. Some Deutsche Bank AG managers may have discussed the reputational risk of issuing withholding tax certificates at the center of a "cum-ex" share trading scheme, Reuters reported Jan. 4, citing an audit by Freshfields. I want to work. Two traders, Simon Pearson and Joe Penna, appear to have been the key figures involved in enabling the scheme to take place. [20], In March 2016, his short film Turning Point was selected to play at the Tribeca Film Festival.[21]. He declined to comment further. Read More . FRANKFURT (Reuters) - 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 seen by Reuters. Each of these owners would then be eligible for a dividend and, significantly, a tax credit. The Freshfields audits say the two traders were aware the prime brokerage services were being used to help other companies carry out cum-ex deals. City. Joe will be based in Frankfurt and in New York to ensure close collaboration with all our regulators. Log In. Last month, the German financial regulator BaFin ordered Deutsche Bank to enact further safeguards to prevent money laundering, a blow to the bank's efforts to repair its reputation. Its anti-money laundering and financial crime procedures continue to be the subject of scrutiny from regulators. Professional. 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. Stephan will assume a new responsibility within our bank, which we will announce in due course. 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. [15], His stop-motion short film Guitar: Impossible was selected to be displayed at the Guggenheim museum. In October 2001, Deutsche Bank was the first German bank to list on the NYSE and one of the largest foreign-based employers in New York City. View detailed DB description & address. People named Joe Penna. Carson has since left Deutsche Bank. For other people named Josef Ackermann, see, Video eferencing studying in Switzerland, while accepting an award for Deutsche Bank in 2011, St. Gallen Foundation for International Studies, "Was Ackermanns Ex-Medienchef ber den Topbanker weiss", "Deutsche Bank and Trump: $2 Billion in Loans and a Wary Board", Ackermann to stay as Deutsche Bank CEO until 2013, "Deutsche Bank details duties of co-CEOs", "Siemens Appoints Board Replacement for Ackermann", "Bank of Cyprus Funded and Controlled by Ex-KGB, Billionaires and Controversial Former Financiers", "Former Chairman and CEO of Deutsche Bank Joins Macro Hive's Board", https://en.wikipedia.org/w/index.php?title=Josef_Ackermann&oldid=1121086632, Members of the Steering Committee of the Bilderberg Group, Pages using infobox person with multiple employers, Creative Commons Attribution-ShareAlike License 3.0, President of the Board of Trustees of the, Chairman of the Board of Directors of the, Bilderberg Meetings attendee 2010, 2011, 2012, 2013, 2014, This page was last edited on 10 November 2022, at 12:23. [10], Media related to Josef Ackermann at Wikimedia Commons. Privacy Notice Deutsche Bank used tools in its Data Lab in Ireland and open source libraries to mine the bank's information for opportunities. Pearson and Penna have been suspects in the investigation since at least 2014 for their role in cum-ex trading, according to court documents. The audits were prepared by Freshfields in Germany and London. or. Contact Head Office U.S.A. Deutsche Bank One Columbus Circle New York, NY, 10019 Telephone: +1(212) 250-2500 Finance Magnates is a global B2B provider of multi-asset trading news, They are dated from 2013 to 2015 and marked "highly confidential". Two traders, Simon Pearson and Joe Penna, seem to have been the key figures that triggered the plan initially and dragged along with others. They are dated from 2013 to 2015 and marked highly confidential. content 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. Seriva obtained withholding tax certificates from DB Frankfurt, the report said, adding later: Employees of DB London knew that no withholding taxes had been levied.. He will report to Simon and split his time between New York and Frankfurt. 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. Will greater investment in water resources make for a more sustainable future? Joe Salama succeeds him as bank's Americas general counsel. Market Intelligence and It garnered international attention. Last year, Deutsche Bank settled a probe by Frankfurt prosecutors into the Nummus work for 4 million euros. Sign Up. And so Deutsche Bank all of a sudden became one of the most aggressive places to work on Wall Street. But the German lender profited from servicing customers that specialized in such transactions, according to people familiar with a German criminal investigation and an internal review seen by Bloomberg. Serivas manager, who asked not to be named, said that the company had received no rebates because of the investigation by tax authorities. 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 Ballance also hired several other Deutsche Bank employees to work on the Cum-Ex deals. Richard Carson was most directly responsible for this shortcoming as the direct supervisor of the manager of the trading desk, the report said. [16][17], In 2012, Penna co-wrote and directed an original interactive thriller series titled Meridian starring Orlando Jones and Rick Overton in conjunction with Fourth Wall Studios. In June 2019, Penna began shooting on the sci-fi movie Stowaway starring Anna Kendrick and Toni Collette.[25]. The new details of the case come at a difficult time for Deutsche Bank as it tries to repair its public image and relations with Berlin after a series of fines relating to other trading scandals. 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 2012 reform of the tax code stopped the practice, and the current debate centers on whether the trades were legal before that. Our Standards: The Thomson Reuters Trust Principles. In 2009, Penna directed an ad in collaboration with Rhett and Link titled T-Shirt War. Contact. AFC remains to be critically important. facebook; twitter; linkedin; pinterest; Laura Scott ankleboot Nero Nuovo PUMPS schnrpumps Scarpe da donna 10cm paragrafo. Deutsche issued Seriva with 5.8 million euros of withholding tax certificates, allowing Seriva to make claims for tax rebates. 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. He also chairs the Legal Diversity and Inclusion Council. One of the audits points to failings by two traders, Simon Pearson and Joe Penna, and to other management shortcomings. I would not accept that there was any failings on my part. The report did not implicate him further in the cum-ex scheme. Banks or Fintechs Who will be shaping the future of the financial industry? 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. See here for a complete list of exchanges and delays. Saint Joseph's University, +1 more. 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. On Monday, Frankfurt prosecutors raided residential and business locations in an investigation unrelated to Deutsche Bank. Steven Reich is now CEO of Deutsche Bank Trust Co. Americas. 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. They worked with companies wanting to invest in the scheme as well as the divisions at Deutsche Bank that were responsible for loaning cash. 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). [13] A year later, Penna directed and starred in yet another commercial for the two companies. In February 2017, Penna began production of his directorial debut feature film, Arctic. Reuters has seen the Freshfields documents, as well as thousands of pages of bank files, correspondence and court documents relating to the cum-ex case. "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? 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. 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 . The industry leader for online information for tax, accounting and finance professionals. The finance giant had Cum-Ex clients that were loaned as much as 1 billion euros ($1.13 billion). Barclays Capital, and Deutsche Bank. Deutsche Bank AG has a new leader for its U.S. entities in Steven Reich, previously general counsel for the Americas at the German . 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. He was a non-executive director of Vodafone from 2000 to 2002. Reuters also contacted Josef Schucker, a person named in the Freshfields audit as the sole investor in Seriva. He is a member of the Steering Committee of the Bilderberg Group. 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 Results: 4934. [8] On December 6, 2009, Penna was featured on FM4, an Austrian national radio station. Reuters, Saturday, March 04, 2023 | On how CEO Josef Ackermann's leadership changed the bank in 2002 Planet Money Episode. [7] His included bonus in 2009 was 8.2million and 7.1million in 2010. What is your availability? FRANKFURT, Jan 27 (Reuters) - Deutsche Bank delivered its most profitable year in a decade on the back of a dealmaking bonanza, strengthening Chief Executive Christian Sewing's hand as he. Money Laundering Deutsche made at least 18 million euros in interest and in the sale of financial products to Ballance, the Freshfields report said. 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. He will report to me and become a member of my Executive Committee. 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. Deutsche Bank profited by lending money to buyers and shares to short sellers in the transactions, said the people, asking not to be identified because the probe isnt public. (Bloomberg) -- 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. Are sustainable cities a solution to climate change? Under his leadership, the AFC team has demonstrated significant progress in the fight against financial crime. Joe will play an important role in this review. Penna maintains the YouTube channel MysteryGuitarMan. In what is being described as Germanys largest post-World War Two fraud scandal, audits into a tax rebate scheme run by Deutsche Bank have allegedly revealed that senior management at the firm was aware that they were scamming the government. The appointment is subject to final regulatory approvals. 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. 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. Barclays Capital, and Deutsche Bank. 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. [10] Penna's "Guitar: Impossible" video was also featured by YouTube as one of the best videos of 2009. 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. The Deutsche Bank spokesman declined to comment on Seriva. 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 18 of 152 19 of 152 #89. He registered the channel on June 16, 2006. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars worth of criminally derived money are laund Deutsche Bank said that it never participated in an organized Cum-Ex market, neither as a short seller nor as a Cum-Ex buyer. It acknowledges that as a major participant in the capital markets, Deutsche Bank was involved in Cum-Ex transactions of its clients and said it is cooperating with the authorities. Sha'ban 11, 1444 H, EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI. Among key figures. One of the five documents is a summary that was handed to the prosecutors in May 2017. The documents were obtained as part of a European media investigation coordinated by non-profit newsroom Correctiv. The tax certificates existed until 2017, when Deutsche Bank canceled them, two people with knowledge of the matter said. 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.