Deutsche Bank Compensates Firm Over FX Derivatives Mis-Sales
This article is for subscribers only.
Deutsche Bank AG compensated a Spanish company for losses the firm made after purchasing foreign-exchange derivatives from the German lender, people familiar with the matter said.
Deutsche Bank paid the wine-maker J Garcia Carrion more than 10 million euros ($12 million), the people said, who asked not to be named as the matter isn’t public. The lender sent a delegation to Madrid late last year to negotiate the deal, and it also apologized for the behavior of its sales people and traders, the Financial Times reported earlier.