The Strategist

Deutsche Bank initiates investigation into deals of Trump's private banker

08/04/2020 - 04:51

A private banker of the German bank Deutsche Bank, Rosemary Vrablic, whose clientelle, among others, includes US President Donald Trump, has become the subject of an internal investigation. The bank is verifying a previously unknown real estate deal it struck with a company partly owned by Trump's son-in-law, Jared Kushner.

Bin im Garten
Bin im Garten
The fact that Vrablic bought an apartment associated with Kushner in 2013 became known after he, having become a senior adviser to the White House, provided an annual report on the financial situation. 

The New York Times found documents that Vrablic and two of her colleagues at Deutsche Bank acquired the apartment from Kushner's Bergel 715 company when he was a co-owner of the firm and his family members were Vrablic's clients.

An informed source for The Wall Street Journal says that the German bank was not aware of the deal and that it is investigating the terms of the $ 1.5 million transaction.

Deutsche Bank obliges its employees to disclose information about the transactions they enter into with clients, but the bank was unable to confirm whether this rule was in effect in 2013. The bank issued a press release promising to carefully examine the situation.

Vrablic joined Deutsche Bank from Bank of America as Senior Private Banker and Managing Director 14 years ago. She will continue to work for the duration of the check.