This week's risk management news includes a Deutsche Bank VP’s lawsuit, fraud by an ex-Citigroup exec, and Greek’s 98% probability of default.
September 14, 2011 | The Asian Banker Editor
Deutsche Bank VP sues over alleged gender bias
Kelley Voelker, a Deutsche Bank vice president, has filed a gender bias lawsuit accusing the German bank of denying her pay and promotions, and for trying to demote her because she took maternity leave. Voelker, who is with a New York-based hedge fund group, said she had never been promoted in her 13 years at Deutsche Bank despite being qualified to become a director.
Ex-Citigroup executive Foster pleads guilty to bank fraud
Former Citigroup vice president Gary Foster, accused of embezzling $22.9 million from the bank, pleaded guilty to one count of bank fraud in a federal court in Brooklyn, New York. From last July to December, Foster moved about $900,000 from an interest-expense account and about $14.4 million from a debt-adjustment account to the bank’s cash account.
Greece default risk jumps to 98%
Greece’s chance of default in the next five years has soared to 98% as Prime Minister George Papandreou fails to reassure international investors that his country can survive the Euro-region crisis.
Re-disseminated by The Asian Banker
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Risk And Regulation Working GroupKeywords:Deutsche Bank, Citigroup, Greece
