WHO KNEW AT DEUTSCHE?
WHO KNEW AT DEUTSCHE?
Deutsche Bank weathered the financial crisis better than many peers, but now its reputation is taking a drubbing from an expanding scandal. The Wall Street Journal reported on Sept. 22 that Supervisory Board Chairman Clemens Borsig knew more than the bank has acknowledged about using private detectives to snoop on a critical shareholder. Borsig was briefed on the operation, though it's unclear whether he O.K.'d it, the Journal said, citing an internal report commissioned by Deutsche from law firm Cleary Gottlieb Steen & Hamilton. A spokesman said the bank stands by statements that top brass did not authorize any questionable activities.
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