Deutsche Bank’s Russia COO Said to Leave as Lender Retreats
- Tanna said to have been left without a role in wake of probe
- Deutsche shut securities unit in Russia after scandal emerged
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Deutsche Bank AG’s Raj Tanna, chief operating officer for Russia, has left after the German lender shut its local securities unit in the wake of a probe into alleged money laundering, according to two people with knowledge of the situation.
Tanna was part of a team conducting an inquiry, known as Project Square, into the so-called mirror trades at the bank’s Russian unit, according to one of the people, who asked not to be identified because they were not authorized to speak on the matter. The Frankfurt-based lender has since curtailed operations in Moscow and shut its local securities unit.