Deutsche Bank Finally Moves on From Ill-Fated Postbank Deal
- Lender has struggled with fallout from deal since 2008
- A settlement with Postbank investors could close that chapter
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Sixteen years after its last major deal, Deutsche Bank AG is finally ready to move on.
Since then-Chief Executive Officer Joe Ackermann initiated the takeover of retail lender Postbank, three days before the failure of Lehman Brothers Holdings Inc., Deutsche Bank has flip-flopped on what to do with the business. Failed IT projects and lawsuits brought by Postbank shareholders further complicated matters.