WestLB AG is a commercial bank domiciled in North Rhine-Westphalia, Germany's most densely populated federal state and it is one of Germany┬┤s leading providers of financial services.

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Another Alleged Massive 'Scr.w Up' At German Bank

More embarrassment, it seems, over at WestLB. Just a week after the German bank let go two senior traders following a $134m loss allegedly sustained on trading shares in German carmaker Volkswagen, the bank has confirmed that it had inadvertently taken a 14% stake in carmaker DaimlerChrysler worth some $12bn.

WestLB To Cut In Financial Markets

The Times reports that the 400 people who work in global financial markets at WestLB in London have been advised that 15% of them will soon lose their jobs. The proposed cut follows swiftly on the 120 reduction in headcount on the equities side at WestLB Panmure.