[3], By January 2011, MysteryGuitarMan became the most subscribed channel in Brazil. All quotes delayed a minimum of 15 minutes. During the height of the activity from 2008 to 2011, the bank took on clients that did nothing but such deals. Ballance Overseas Management Ltd., a London-based entity where he was a director, became a client of Deutsche Banks prime brokerage in February 2010 and had borrowed about 404 million euros within months, U.K. filings show. He also chairs the Legal Diversity and Inclusion Council. He declined to comment further. In an email to Reuters he said: I have not seen, nor have been provided with any copies of the reports you mention in your communication. German tax authorities say that the scheme, which also involved several other global firms including Santander and Macquarie, cost them a total of 5.6 billion ($6.36 billion). A German lawyer for Pearson declined to comment. Search Reset. But the German lender profited from servicing customers that specialized in such transactions, according to people familiar with a German criminal investigation and an internal review seen by Bloomberg. In June 2019, Penna began shooting on the sci-fi movie Stowaway starring Anna Kendrick and Toni Collette.[25]. Richard Carson was most directly responsible for this shortcoming as the direct supervisor of the manager of the trading desk, the report said. The Deutsche Bank spokesman declined to comment on Seriva. The tax certificates existed until 2017, when Deutsche Bank canceled them, two people with knowledge of the matter said. Reuters has seen the Freshfields documents, as well as thousands of pages of bank files, correspondence and court documents relating to the cum-ex case. Each of these owners would then be eligible for a dividend and, significantly, a tax credit. On this Wikipedia the language links are at the top of the page across from the article title. At the core of the new division is the Global Transaction Banking (GTB) business which is an established market leader in Europe, with on the ground presence in 60 countries, The Investment Bank focuses on its traditional strengths in financing, advisory, fixed income and currencies. I want to work. [12], Following the success of the original, Penna and the original cast were hired to produce a national television and cinema spot for Coca-Cola and McDonald's. They are dated from 2013 to 2015 and marked highly confidential. The change will be effective as of July 1st to ensure a smooth transition. Prior roles include Americas Head of Litigation and Head of Legal for the Non-Core Operations Unit. See here for a complete list of exchanges and delays. They are dated from 2013 to 2015 and marked "highly confidential". [8] On December 6, 2009, Penna was featured on FM4, an Austrian national radio station. [11] Shortly after, Penna was selected as one of the top 10 new directors at the 20th Cannes Lions Saatchi & Saatchi New Directors' Showcase. He served as chairman of the board from 2002 to 2012. Serivas manager, who asked not to be named, said that the company had received no rebates because of the investigation by tax authorities. In February 2017, Penna began production of his directorial debut feature film, Arctic. He was also a finalist in the "Oreo Global Moments" video competition. (Charles W. Lamb; Carl McDaniel; Joe F. Hair) Business-To-Business Marketing (Robert P. Vitale; Joseph Giglierano; Waldemar Pfoertsch) Cognitive Psychology (Robert . We will update you on our priorities and respective changes in the organization by mid of June. Democratizing Investing: A Revolution in the Making? [5] At the annual shareholder meeting in late May 2012, he "handed over the CEO baton" to co-CEOs Anshu Jain and Juergen Fitschen. , Bloomberg. content Deutsche Bank used tools in its Data Lab in Ireland and open source libraries to mine the bank's information for opportunities. facebook; twitter; linkedin; pinterest; Laura Scott ankleboot Nero Nuovo PUMPS schnrpumps Scarpe da donna 10cm paragrafo. Barclays Capital, and Deutsche Bank. One part of the audit addresses Deutsche Banks decision to lend money to companies what the audit calls provision of finance so that those companies could carry out cum-ex trades and the discussion of risks to its reputation. Nummus went through a customer acceptance procedure, with Deutsche Banks legal department reviewing the contracts and the credit risk management unit conducting due diligence, including a review of the business model and the trading strategy, according to the report. I am convinced that together we will be able to achieve our objectives. Deutsche Bank said that it never participated in an organized Cum-Ex market, neither as a short seller nor as a Cum-Ex buyer. It acknowledges that as a major participant in the capital markets, Deutsche Bank was involved in Cum-Ex transactions of its clients and said it is cooperating with the authorities. 2/5/2023 1:06 AM. Joe Ravi // Shutterstock #89. The bank issued tax certificates for withholding tax that had never been deducted and made loans to clients to allow them to participate in the scheme to claim tax rebates, according to the audits. Deutsche Bank acted as the prime broker for several Cum-Ex investors that were Ballance clients, according to the probes findings. Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. /marketintelligence/en/news-insights/trending/bNfD9yUmwF2-mqAqA1EEoQ2 The summit runs Nov. 17 - 19 and addresses current global challenges, digitisation and disruption, innovation and shifts in economy. Priti and Shilpa found work-family balance when they resumed their careers. "Fantstico: Brasileiro larga a medicina e ganha dinheiro fazendo vdeos no YouTube", "Joe Penna / MysteryGuitarMan about page", "Amazing Stop Motion T-Shirt War (VIDEO)", "Saatchi & Saatchi New Directors Showcase Bows in Cannes Extreme Reach", "YouTube and Guggenheim showcase video artists", "CNN YouTube search for most creative videos", "MysteryGuitarMan Joe Penna Brings Interactive Thriller To Rides.tv", "MysteryGuitarMan is the latest YouTube star to get his own TV show", "Mads Mikkelsen To Star In Thriller 'Arctic' From Armory Films", "Mads Mikkelsen on Surviving the Polar Wilderness in 'Arctic', "Cannes Film Festival 2018: Spike Lee, Jean-Luc Godard, Jafar Panahi In Competition; Whither Von Trier? He registered the channel on June 16, 2006. Photographer: Krisztian Bocsi/Bloomberg It was shot in Iceland and stars Mads Mikkelsen. articles a month for anyone to read, even non-subscribers! The new details of the case come at a difficult time for Deutsche Bank as it tries to repair its public image and relations with Berlin after a series of fines relating to other trading scandals. Joe Ravi // Shutterstock Show More Show Less. Full List", https://en.wikipedia.org/w/index.php?title=Joe_Penna&oldid=1131180368, Brazilian expatriates in the United States, Short description is different from Wikidata, Articles containing potentially dated statements from January 2019, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, Guitar, bass guitar, drums, keyboards, vocals, This page was last edited on 2 January 2023, at 23:15. Deutsche Bank Elevates Top Americas Lawyer to Trust Company Role. Read this Term scandal. Penna did not respond to a letter requesting comment sent to his home in London. Group Tax confirmed in March 2009 the provision of leverage for cum-ex trades through Deutsche Bank.. New York, New York. This email has been sent to all employees in Chief Administrative Office today. As a result the AFC team has grown to over 1,600 people. For CEO Christian Sewing, whos trying to turn the tide at Germanys biggest bank after years of painful missteps, the escalation couldnt come at a more precarious time. [8], Days after retirement and on the eve of a conference call by G7 finance ministers and central bank governors on the continuing European debt crisis, Ackerman said in a speech to the Atlantic Council that "Germany will ultimately take whatever steps [are] necessary to keep the euro zone intact", according to one report. Reuters also contacted his spokeswoman by email, who did not respond. Deutsche Bank profited by lending money to buyers and shares to short sellers in the transactions, said the people, asking not to be identified because the probe isnt public. One of the audits points to failings by two traders, Simon Pearson and Joe Penna, and to other management shortcomings. [9] Shortly after uploaded, his "Guitar: Impossible" video was featured on the MSN.com front page. Barclays Capital, and Deutsche Bank. From raising children, to caring for family members, taking a career break can be challenging, but these experiences away from the office can expand skill sets and widen perspectives. In what is being described as Germanys largest post-World War Two fraud scandal, audits into a tax rebate scheme run by Deutsche Bank have allegedly revealed that senior management at the firm was aware that they were scamming the government. [18], In August 2014, Penna was announced as the host of Xploration Earth 2050, a technology-oriented television series. Over the past 2 years, the bank has invested substantially in building its capabilities in Financial Crime Risk management. News. The industry leader for online information for tax, accounting and finance professionals. Deutsche Bank has appointed Joe Salama, its U.S. general counsel, as global head of anti-financial crime (AFC) and group anti money laundering officer, the bank said in a memo to employees on Tuesday. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. View Joe Pehar's profile on LinkedIn, the world's largest professional community. Jnatas "Joe" de Moura Penna (born May 29, 1987) is a Brazilian musician and filmmaker best known from both his YouTube channel MysteryGuitarMan and his feature films. Some Deutsche Bank managers may have discussed the reputational risk of issuing withholding tax certificates at the center of a Jnatas "Joe" de Moura Penna (born May 29, 1987) is a Brazilian musician and filmmaker best known from both his YouTube channel MysteryGuitarMan and his feature films. The company also acted as a custodian and issued tax certificates needed for the deals, they said. Deutsche Bank commissioned law firm Freshfields to write the five audits as part of an internal investigation into its role in cum-ex trading between 2006 and 2011. Found email list ings include: j***@db.com. [4], Ackermann agreed at the end of 2009 to continue as chief executive of Deutsche Bank for another three years until 2013. Q1. Even though evidence is not clear-cut, there are a lot of indications that the staff of SETG (Strategic Equities Transactions Group) and managers, who were responsible for Prime Brokerage at the SEF-IM (Structured Equity Finance Inventory Management) trading desk, discussed the reputational risk for Deutsche Bank from its provision of finance in January 2009 and came to the conclusion that this was acceptable, one of the Freshfields audits said. Ballance also hired several other Deutsche Bank employees to work on the Cum-Ex deals. Reuters, Saturday, March 04, 2023 | We will continue our 60 day strategic review in the new CAO area. In the same year he joined the board of directors of the Deutsche Bank in Frankfurt am Main. Deutsche Bank ( CEO, 2002-2012) Bank of Cyprus ( Chairman, 2014-2019) Josef Meinrad Ackermann (born 7 February 1948) is a Swiss banker, former Chairman of the Bank of Cyprus, and former chief executive officer of Deutsche Bank. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. They are dated from 2013 to 2015 and marked highly confidential. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Engage via Email. Reuters also contacted Josef Schucker, a person named in the Freshfields audit as the sole investor in Seriva. I am pleased to announce that the Management Board has appointed Joe Salama as Global Head of Anti-Financial Crime (AFC) and Group Anti Money Laundering Officer. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars worth of criminally derived money are laund . For CEO Christian Sewing, whos trying to turn the tide at Germanys biggest bank after years of painful missteps, the escalation couldnt come at a more precarious time. [20], In March 2016, his short film Turning Point was selected to play at the Tribeca Film Festival.[21]. In 2007, Penna was one of the first YouTube channels to receive mainstream media coverage, including attention from DC Fox News,[7] after his video The Puzzle was featured on the front page of YouTube. Under his leadership, the AFC team has demonstrated significant progress in the fight against financial crime. Like(s), Event Deutsche Bank also had a profit-sharing agreement with Ballance in 2009 and 2010 under which it received 30% to 50% of the money the asset manager made, according to people familiar with the findings of the Cologne probe. Subject to regulatory approvals, Salama will succeed Stephan Wilken on July 1, Stefan Simon, Deutsche Bank's Chief Administrative Officer, said in the memo. [7] His included bonus in 2009 was 8.2million and 7.1million in 2010. Seriva obtained withholding tax certificates from DB Frankfurt, the report said, adding later: Employees of DB London knew that no withholding taxes had been levied.. The Annual Report 2021 includes an overview of Deutsche Bank, the management report with the compensation report, the bank's audited consolidated financial statements, the corporate governance statement and supplementary information. The controversial transactions -- widely reported to have cost German taxpayers more than 10 billion euros -- involved the sale of borrowed shares just before a company was due to pay a dividend. On how CEO Josef Ackermann's leadership changed the bank in 2002 Planet Money Episode. Pearson and Penna left Deutsche Bank in 2009 to join Ballance Group, an asset management company that advised funds and other market participants who engaged in Cum-Ex transactions. He has also been a member of the influential Washington-based financial advisory body, the Group of Thirty. The audits were prepared by Freshfields in Germany and London. The audit dated April 16, 2015 pointed to significant failings in overseeing two traders, Simon Pearson and Joe Penna, who they say acted as middle men between the clients and the bank departments that lent money to fund the cum-ex scheme and issued tax certificates. Copyright 2023 Ministry of Information. [5], On September 11, 2005,[6] Penna launched a second YouTube channel, where he uploads his making-of videos and vlogs. Money Laundering The April 16 report said that the banks controls over the trading desk headed by Pearson were too weak and this was a serious shortcoming. Pearson did not respond to multiple emails sent to him at his new company in Gibraltar. It was reported in December 2018 that Deutsche had agreed to pay 4 million to settle an investigation by Frankfurt prosecutors into its involvement in the so-called cum-ex trades. He will report to me and become a member of my Executive Committee. Joe will play an important role in this review. Within 6 hours, it became the third most subscribed channel in Brazil.[1]. There are lots of indications that some managers discussed the reputational risks of Deutsche Banks involvement in a share-trading scheme that is the subject of Germanys biggest post-war fraud investigation, according to a conclusion in one of five internal audits. Deutsche Bank is just one of many firms tied to the scandal, and the company maintains it didnt act as a buyer or seller in the Cum-Ex deals. He resides in Los Angeles, California. Deutsche issued Seriva with 5.8 million euros of withholding tax certificates, allowing Seriva to make claims for tax rebates. Josef Meinrad Ackermann (born 7 February 1948) is a Swiss banker, former Chairman of the Bank of Cyprus, and former chief executive officer of Deutsche Bank. Among key figures involved in Cum-Ex work at Deutsche Bank, the people said, were Simon Pearson and Joe Penna, former managers who left the bank in 2009. Two traders, Simon Pearson and Joe Penna, appear to have been the key figures involved in enabling the scheme to take place. NEW YORK, May 18 (Reuters) - Deutsche Bank (DBKGn.DE) has appointed Joe Salama, its U.S. general counsel, as global head of anti-financial crime (AFC) and group anti money laundering officer, the bank said in a memo to employees on Tuesday. Reuters claims that Pearson and Penna acted as middlemen in these deals. [6], According to the Financial Times Deutschland Ackerman earned 9.4million in 2009 and 8.8million in 2010. He registered the channel on June 16, 2006. In October 2001, Deutsche Bank was the first German bank to list on the NYSE and one of the largest foreign-based employers in New York City. He will report to Simon and split his time between New York and Frankfurt. [4] As of January2019[update], his channel has garnered over 2.6 million subscribers, and his videos have accrued nearly 400 million views. The finance giant had Cum-Ex clients that were loaned as much as 1 billion euros ($1.13 billion). For example, Deutsche Bank issued a company called Seriva with 5.8 million euros of tax certificates, allowing the firm to make claims for tax rebates. German authorities say that dozens of banks and brokerages in London and other global financial hubs helped investors siphon off billions of euros from the national treasury with the transactions over the course of a decade. An internal report from Deutsche Bank, written by legal firm Freshfields, indicated that senior management at the German bank was aware of the scheme. Steven Reich is now CEO of Deutsche Bank Trust Co. Americas. Saint Joseph's University, +1 more. 18 of 152 19 of 152 #89. PDF Presentation Fixed Income Call. Manage Cookies, Deutsche Bank Execs Were Aware of Tax Fraud Scheme. Copy of Case 1 Did Info Systems Cause Deutsche Bank to Stumble; ECON 208 - Final Study Guide; Solomon Consumer Behaviour Chap 1 test bank; Sample/practice exam 2016, questions . Among key figures. Two traders, Simon Pearson and Joe Penna, seem to have been the key figures that triggered the plan initially and dragged along with others. Joe Pena works at Deutsche Bank, which is a Banking company with an estimated 83,000 employees. Attempts to reach Penna were unsuccessful. The documents were obtained as part of a European media investigation coordinated by non-profit newsroom Correctiv. Barclays Capital, and Deutsche Bank. He was a non-executive director of Vodafone from 2000 to 2002. Deutsche Bank's Joseph Salama was critical in negotiating settlements with global regulators on the bank's behalf, the bank's chief administrative officer said. And so Deutsche Bank all of a sudden became one of the most aggressive places to work on Wall Street. Joe Penna Deutsche Bank Alias or nickname Find other people named Joe Pennas General Info at Deutsche Bank Not who you're looking for? Oct. 29, 2020, 11:20 AM. The Deutsche Bank spokesman declined to comment. They allowed multiple investors to claim a refund on a dividend tax that was paid only once, according to German authorities. According to a Reuters report published on Friday, the German bank misled authorities into thinking that certain stocks had multiple owners. The mens work and Ballances role are described in detail in an indictment Cologne prosecutors filed in April against two former London bankers who worked at Ballance, according to the people. He has also been a member of the influential Washington-based financial advisory body, the Group of Thirty . Joe Pena's Phone Number and Email Last Update. German prosecutors say the schemes participants misled the government into thinking a stock had multiple owners on its dividend payday who were each owed a dividend and a tax credit, according to court documents. Sha'ban 11, 1444 H, EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI. Joe Penna. The documents, seen by Reuters, suggest that Deutsche traders discussed the associated reputational risk and concluded that it was acceptable, although they add that the evidence is "not clear-cut.". On Monday, Frankfurt prosecutors raided residential and business locations in an investigation unrelated to Deutsche Bank. Now, its approaching the highest levels of the German lender, with three key figures -- investment banking chief Garth Ritchie, former co-Chief Executive Officer Anshu Jain and his predecessor Josef Ackermann -- among 80 suspects linked to the bank and being probed by prosecutors in the so-called Cum-Ex affair, according to people familiar with the matter.

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