Deutsche Bank chief expects lawsuits to be over soon

Deutsche Bank - Foyer Bridge

Deutsche Bank, the firm that has paid more than $9bn in fines and settlements since the financial crisis, expects to resolve the largest of its legal cases in coming months, co-CEO John Cryan said.

“We can never promise it, but hopefully they’ll be behind us” by mid-year or the third-quarter, Cryan, 55, said at a conference in Frankfurt on Wednesday. “2016 should be the year when we finish the process of tidying up the bank and be 100% focused on what’s most important, which is our staff engaging with our customers.”

Bloomberg News reports that Cryan, who took over from co-CEO Anshu Jain in July, is mopping up litigation and investigations stretching the globe, from probes into its U.S. mortgage-backed securities business to whether its traders colluded to manipulate currency rates. U.S. and U.K. authorities are also investigating suspected money-laundering at the Russian unit, people with knowledge of the matter have said.

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