Deutsche Bank says trader dismissed over irregular trade records

Deutsche Bank - Foyer Bridge

A Deutsche Bank AG currency trader was dismissed earlier this year after internal checks uncovered irregularities around how he recorded trades, the bank said.

Bloomberg News reports that Andy Donaldson was suspended in June and dismissed shortly after, Sydney-based Adrian Cox, a Deutsche Bank spokesman, confirmed by phone Monday.

Donaldson didn’t immediately respond to voicemails left by Bloomberg. He caused the bank as much as A$5 million ($4.5 million) in losses, the Australian Financial Review reported earlier Monday, without saying where it got its information. The sum involved wasn’t material to the bank and didn’t have an external impact, Cox said by e-mail.

The trader’s activities had no connection to any global probes into currency markets, Cox said. 

Hit the link below to access the complete Bloomberg News article:

Deutsche Bank Says Currency Trader Dismissed on Misreporting

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