Deutsche Bank Raid Pulls CEO Sewing Deeper Into Vicious Circle
- The negative feedback loop that undid Cryan afflicts Sewing
- Police raids of German bank’s offices continued into Friday
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It was a day for optimism amid the exotic trees and plants in Frankfurt’s botanical garden. Deutsche Bank AG Chief Executive Officer Christian Sewing was there to give the annual pep talk to his top executives.
The good cheer didn’t last long. The morning after, on Thursday, many were confronted by a line of police cars outside their headquarters. There and at five other locations, 170 officers were looking for signs of possible money laundering, with the raids continuing the next day.