Swissfirst CEO quits amid probe of Bellevue deal

Article Abstract:

Chief Executive Officer Thomas Matter, Swissfirst AG of Switzerland has resigned amidst an investigation of a 2005 Bellevue merger. Mr. Matter retains an 18.5 percent stake in the Swiss banking interest and maintains the merger was above board. Shares dropped by 25 percent at the news yet rose yesterday by 1.4 percent to 75 Swiss Francs ($60.51) on the Zurich stock exchange.

Switzerland, Acquisitions and mergers, Matter, Thomas

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German tax probe helps to recoup $41.2 million

Article Abstract:

Several German banks have confirmed they have been approached by prosecutors in a tax evasion probe: B. Metzler seel. Sohn and Co. KGaA, Hauck and Aufhaeuser, Berenberg Bank, Dresdner Bank AG, and UBS Deutschland AG. German prosecutors suspect that some German banks assisted clients in transferring money to Liechtenstein; so far $41.2 mil has been recovered.

Tax evasion, Dresdner Bank AG (Frankfurt, Germany), Berenberg Bank

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Deutsche Bank pricing episode raises risk-control questions

Article Abstract:

Deutsche Bank AG of Germany is investigating a collateralized debt obigation alleged overstatement of 30 million Pounds ($53 million). The overstatement had been occurring for over a month and was only discovered when Anshul Rustagi went on holiday. The incident raises questions concerning risk control regulation.

Germany, Deutsche Bank AG (Frankfurt, Germany), DB, Collateralized debt obligations

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