Weltnachrichten – CA – Trump’s longtime banker at Deutsche Bank resigns


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Rosemary Vrablic, who oversaw hundreds of millions of dollars in loans to President Trump’s company, will be leaving the bank next week.

President Trump’s longtime banker at Deutsche Bank, who ensured that the German lender gave his company several hundred million dollars in loans, is leaving the bank.

Rosemary Vrablic, managing director and senior banker in Deutsche Bank’s wealth management division, recently submitted her resignation, which the bank has accepted, according to a bank spokesman, Daniel Hunter.

« I have decided to resign from my position at the bank with effect from December. « . 31 looking forward to my retirement? woman. Vrablic, 60, said in a statement Tuesday.

The reasons for wife. Vrablic’s sudden resignation was not clear. In August, Deutsche Bank opened an internal review of a 2013 real estate transaction between Ms.. Vrablic and a company partially owned by Jared Kushner, the son-in-law of Mr.. . Trump and a customer of Mrs.. Vrablic’s. Dominic Scalzi, a longtime colleague of Mrs.. Vrablic, who played a role in this transaction, will also be leaving the bank.

woman. Vrablic and Mr. . Scalzi joined Deutsche Bank in 2006 from Bank of America. woman. Vrablic quickly made a name for herself as one of the leading rainmakers in her division. In 2011 she won a prominent new client: Mr. . Trump, who was largely banned from the mainstream banking world for decades due to his tendency to default on credit. With their bosses? Consent, mrs. Vrablic agreed to a series of loans totaling well over $ 300 million for its newly acquired Doral golf resort in Florida, for its troubled skyscraper in Chicago, and for the conversion of the old Washington Post Office building into a luxury hotel.

If Mr.. . Trump became president, and his relationship with Deutsche Bank has been scrutinized by regulators, prosecutors and congressional Democrats. woman. Vrablic starred in the suddenly controversial relationship She was a V.. . I. P. . Guest at Mr. . Trump’s inauguration pushed the audience-shy banker into the spotlight.

The relationship between Mr. . Trump and the Deutsche Bank are under investigation in Congress, in civil and criminal matters. Manhattan District Attorney Cyrus R. . Vance jr. . has investigated whether Mr.. . Trump committed financial crimes while trying to get loans from Deutsche Bank.

Mr. . Trump’s key contacts with his largest financier come at a dangerous time for the outgoing president. He owes Deutsche Bank around $ 330 million, and the loans mature in 2023 and 2024. Mr. Trump provided a personal guarantee to receive the loans, which means the bank can keep track of his personal assets if he does not repay them.

Deutsche Bank’s internal review has focused, at least in part, on one Park Avenue apartment, the woman. Vrablic, Mr.. . Scalzi and another colleague at Deutsche Bank bought for about $ 1. 5 million from a company called Bergel 715 Associates in June 2013. Mr. Kushner was involved in this company at the time.

Banks usually prevent employees from doing personal business with customers because conflicts of interest can arise.

After being contacted by the New York Times in August, Deutsche Bank officials began reviewing the « ???? and the 2013 fact sheet » transaction. Mr. Hunter, the bank spokesman, said at the time.

The status and scope of this review, which may include other transactions, is not clear, but Deutsche Bank officials previously announced that it would be completed by the end of the year.

At the time of the real estate transaction, Dr. . Vrablic quickly expanded Deutsche Bank’s relationship with the Trumps and the Kushners. It was Mr.. . Kushner, who invited women in 2011. Vrablic to Trump Tower in Manhattan to meet his father-in-law who was radioactive for most of the major banks.

woman. Vrablic and her boss have championed the Trump relationship. But it polarized within the bank. Some senior executives argued that it was too risky to lend Mr.. Trump, who had not repaid any loans in the past, including in 2008 when he defaulted on a large Deutsche Bank loan with his skyscraper in Chicago. However, these concerns were overridden, and the relationship with Lord. Trump made progress.

When they were looking for more credit, Mr.. . Trump and his agents provided Deutsche Bank with annual financial statements that appeared to significantly exaggerate the value of some of his company’s real estate and other assets, according to current and former bank employees, as well as statements by Congress from Mr.. Trump’s former personal attorney, Michael Cohen.

That is a focus of Mr.’s criminal investigation. Vance, the Manhattan District Attorney. Since the November election, its prosecutors have questioned Deutsche Bank officials about the bank’s lending policies and procedures, and bank executives expect prosecutors to testify employees in front of a grand jury.

Since their first meeting, Dr. . Vrablic made friends with Mr.. . Trump and Mr.. . Kushner. In an interview with The Times in early 2016, Mr.. Trump repeatedly and incorrectly referred to woman. Vrablic as head of Deutsche Bank. â ????

Deutsche Bank, Donald Trump, Rosemary Vrablic, Finances, Private Banking

World News – CA – Trump’s longstanding banker at Deutsche Bank resigns

Ref: https://www.nytimes.com

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