Deals
Fired Deutsche Bank Manager Claims Superiors Approved Deal Lists
- Morton has sued bank for $17 million saying dismissal unfair
- Dispute stems from payments made to Chinese joint venture
The Deutsche Bank AG headquarters in Frankfurt.
Photographer: Ralph Orlowski/BloombergThis article is for subscribers only.
A former Deutsche Bank AG executive who’s suing the firm for unfair dismissal is arguing in court that the payments to a Chinese joint venture which got him fired were based on approvals by other top managers in Asia.
Douglas Morton, who was a managing director in Hong Kong, has alleged in the city’s High Court that senior executives including the co-head of the Asian corporate banking and securities unit at the time approved two lists of deals that formed the basis for revenue sharing payments made to Zhong De Securities Co. in 2013 and 2015, his lawyer at Robertsons Solicitors said.