Deutsche Bank to Pay $6 Million to Settle Colin Fan Suit
- Ex-trading chief sued his former employer over unpaid bonus
- Deutsche Bank said Fan violated the company’s code of conduct
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Deutsche Bank AG agreed to pay Colin Fan, the former co-head of its investment banking unit, about $6 million to settle his suit against the firm, according to a person with knowledge of the discussions.
Fan sued the German bank last year for about $13 million because it had canceled a bonus of unvested shares after his departure in 2015. Deutsche Bank said at the time that the firm canceled the shares after a probe found Fan’s personal trades violated conflict-of-interest rules. The person with knowledge of the settlement asked not to be identified because the details weren’t public.