In 2007, Penna was one of the first YouTube channels to receive mainstream media coverage, including attention from DC Fox News,[7] after his video The Puzzle was featured on the front page of YouTube. [6], According to the Financial Times Deutschland Ackerman earned 9.4million in 2009 and 8.8million in 2010. Reuters could not find any remaining parts of Ballance. j***@db.com. Germany . Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars worth of criminally derived money are laund In the same year he joined the board of directors of the Deutsche Bank in Frankfurt am Main. The audits were prepared by Freshfields in Germany and London. Jnatas "Joe" de Moura Penna (born May 29, 1987) is a Brazilian musician and filmmaker best known from both his YouTube channel MysteryGuitarMan and his feature films. How can companies and decision-makers reset for growth beyond corona virus. [18], In August 2014, Penna was announced as the host of Xploration Earth 2050, a technology-oriented television series. Last month, the German financial regulator BaFin ordered Deutsche Bank to enact further safeguards to prevent money laundering, a blow to the bank's efforts to repair its reputation. Even though evidence is not clear-cut, there are a lot of indications that the staff of SETG (Strategic Equities Transactions Group) and managers, who were responsible for Prime Brokerage at the SEF-IM (Structured Equity Finance Inventory Management) trading desk, discussed the reputational risk for Deutsche Bank from its provision of finance in January 2009 and came to the conclusion that this was acceptable, one of the Freshfields audits said. Joe will play an important role in this review. Total losses from the Cum-Ex trade across Europe have been estimated at 55 billion; Joe Penna was a key figure in the Deutsche Bank unit financing the controversial transactions. Log in or sign up for Facebook to connect with friends, family and people you know. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars worth of criminally derived money are laund Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Numerous probes are ongoing. Freshfields said in the report that staff at Deutsche and Seriva were aware that no withholding tax had been levied. Reuters also contacted Josef Schucker, a person named in the Freshfields audit as the sole investor in Seriva. Deutsche Bank Elevates Top Americas Lawyer to Trust Company Role. Two traders, Simon Pearson and Joe Penna, seem to have been the key figures that triggered the plan initially and dragged along with others. Barclays Capital, and Deutsche Bank. The bank issued tax certificates for withholding tax that had never been deducted and made loans to clients to allow them to participate in the scheme to claim tax rebates, according to the audits. That compares. Joe Penna, the husband of Irish model Georgia Salpa, has been caught up in a share-trading scandal that may have cost German taxpayers billions of euro. Ballance controlled several entities which have been disbanded or renamed, according to filings with the Britains financial regulator, the Financial Services Authority, seen by Reuters. Copyright 2023 Ministry of Information. FRANKFURT (Reuters) - There are lots of indications that some managers discussed the reputational risks of Deutsche Banks involvement in a share-trading scheme that is the subject of Germanys biggest post-war fraud investigation, according to a conclusion in one of five internal audits seen by Reuters. Full List", https://en.wikipedia.org/w/index.php?title=Joe_Penna&oldid=1131180368, Brazilian expatriates in the United States, Short description is different from Wikidata, Articles containing potentially dated statements from January 2019, All articles containing potentially dated statements, Creative Commons Attribution-ShareAlike License 3.0, Guitar, bass guitar, drums, keyboards, vocals, This page was last edited on 2 January 2023, at 23:15. On this Wikipedia the language links are at the top of the page across from the article title. Pearson did not respond to multiple emails sent to him at his new company in Gibraltar. "Fantstico: Brasileiro larga a medicina e ganha dinheiro fazendo vdeos no YouTube", "Joe Penna / MysteryGuitarMan about page", "Amazing Stop Motion T-Shirt War (VIDEO)", "Saatchi & Saatchi New Directors Showcase Bows in Cannes Extreme Reach", "YouTube and Guggenheim showcase video artists", "CNN YouTube search for most creative videos", "MysteryGuitarMan Joe Penna Brings Interactive Thriller To Rides.tv", "MysteryGuitarMan is the latest YouTube star to get his own TV show", "Mads Mikkelsen To Star In Thriller 'Arctic' From Armory Films", "Mads Mikkelsen on Surviving the Polar Wilderness in 'Arctic', "Cannes Film Festival 2018: Spike Lee, Jean-Luc Godard, Jafar Panahi In Competition; Whither Von Trier? Ford selected Penna as a Fiesta Agent for the 2009 Ford Fiesta Movement. Global Head of Litigation and Regulatory Enforcement. Log In. Professional. Barclays Capital, and Deutsche Bank. For CEO Christian Sewing, whos trying to turn the tide at Germanys biggest bank after years of painful missteps, the escalation couldnt come at a more precarious time. See here for a complete list of exchanges and delays. FRANKFURT, Jan 27 (Reuters) - Deutsche Bank delivered its most profitable year in a decade on the back of a dealmaking bonanza, strengthening Chief Executive Christian Sewing's hand as he. Others, which were renamed, dont have listed phone numbers. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. During the height of the activity from 2008 to 2011, the bank took on clients that did nothing but such deals. He registered the channel on June 16, 2006. Search Reset. In order for the scheme to work, Deutsche Bank would loan money to firms which would then make trades which, in turn, they could then claim tax credits on. One of the five documents is a summary that was handed to the prosecutors in May 2017. He has also been a member of the influential Washington-based financial advisory body, the Group of Thirty . The mens work and Ballances role are described in detail in an indictment Cologne prosecutors filed in April against two former London bankers who worked at Ballance, according to the people. Please join me in thanking Stephan for his work and wishing Joe all the best in his new role. Report: Internal Deutsche audit details links to 'cum-ex' scandal, Banking Essentials Newsletter: Feb 22nd Edition, Wells Fargo Securities Now Available in S&P Globals Aftermarket Research Collection, A Central Bank Gains Market Intelligence to Support its Supervision and Stability Roles, According to Market Intelligence, February 2023. PDF PDF (Q1 2018 results) PDF PDF (Ad-hoc release strategy) PDF PDF (Release strategy) PDF PDF (Q2 2018 segment and financial statements structure) XLS (Q2 2018 segment and financial statements structure) PDF PDF. Deutsche Bank said that it never participated in an organized Cum-Ex market, neither as a short seller nor as a Cum-Ex buyer. It acknowledges that as a major participant in the capital markets, Deutsche Bank was involved in Cum-Ex transactions of its clients and said it is cooperating with the authorities. German authorities say that dozens of banks and brokerages in London and other global financial hubs helped investors siphon off billions of euros from the national treasury with the transactions over the course of a decade. PDF Presentation Fixed Income Call. Joe has been with the bank for more than 10 years and currently serves as Global Head of Litigation & Regulatory Enforcement and General Counsel for the Americas. City. One of the audits points to failings by two traders, Simon Pearson and Joe Penna, and to other management shortcomings. Senior Sales Representative Comm/Data at Graybar. December 20, 2022. Seriva obtained withholding tax certificates from DB Frankfurt, the report said, adding later: Employees of DB London knew that no withholding taxes had been levied.. (Charles W. Lamb; Carl McDaniel; Joe F. Hair) Business-To-Business Marketing (Robert P. Vitale; Joseph Giglierano; Waldemar Pfoertsch) Cognitive Psychology (Robert . Deutsche Bank AG has a new leader for its U.S. entities in Steven Reich, previously general counsel for the Americas at the German . Now, its approaching the highest levels of the German lender, with three key figures -- investment banking chief Garth Ritchie, former co-Chief Executive Officer Anshu Jain and his predecessor Josef Ackermann -- among 80 suspects linked to the bank and being probed by prosecutors in the so-called Cum-Ex affair, according to people familiar with the matter. Investments in improving data and technology continue. Further documents: Annual Financial Statements and; Financial Data Supplement Q4 / Full-year 18 of 152 19 of 152 #89. Joe Penna Deutsche Bank Alias or nickname Find other people named Joe Pennas General Info at Deutsche Bank Not who you're looking for? Some Deutsche Bank AG managers may have discussed the reputational risk of issuing withholding tax certificates at the center of a "cum-ex" share trading scheme, Reuters reported Jan. 4, citing an audit by Freshfields. Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Germany's largest lender has been the subject of numerous regulatory and legal investigations over the past decade. In October 2001, Deutsche Bank was the first German bank to list on the NYSE and one of the largest foreign-based employers in New York City. A German lawyer for Pearson declined to comment. It garnered international attention. More: The Tax Dodge That Cost the German Treasury Billions of Euros. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. AI in banking and business what can it do and who stands to gain? From raising children, to caring for family members, taking a career break can be challenging, but these experiences away from the office can expand skill sets and widen perspectives. AFC remains to be critically important. [3], By January 2011, MysteryGuitarMan became the most subscribed channel in Brazil. or. The practice was named after the Latin term cum/ex, meaning with/without, because the stocks were sold with and delivered without a dividend payment. Deutsche Bank is just one of many firms tied to the scandal, and the company maintains it didnt act as a buyer or seller in the Cum-Ex deals. The audits were prepared by Freshfields in Germany and London. Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, iPhone Maker Plans $700 Million India Plant in Shift From China, S&P 500 Notches Best Week Since Late January: Markets Wrap, Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, Zoom Abruptly FiresPresident Greg Tomb Without Cause. Stephan will assume a new responsibility within our bank, which we will announce in due course. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. We will continue to strengthen our controls and increase collaboration within the AFC function as well as our collaboration with the business lines and the tech organization. In 2008, Pearson was a managing director and Penna a director in Deutsche Banks London-based prime finance unit, according to an investigation the bank commissioned by Freshfields Bruckhaus Deringer LLP into its dealings with Nummus Financial GmbH. How cloud technology is silently revolutionising our economy. Laura Scott ankleboot Nero Nuovo PUMPS schnrpumps Scarpe da donna 10cm paragrafo Qualit di eccellenza Autentico Merchandise Alta qualit, sconti elevati ctexperiential.org, 58.88 Le migliori offerte per LAURA SCOTT ANKLEBOOT SCHWARZ NEU PUMPS SCHNRPUMPS DAMEN . Reuters also contacted his spokeswoman by email, who did not respond. Deutsche Bank (DBKGn.DE) has appointed Joe Salama, its U.S. general counsel, as global head of anti-financial crime (AFC) and group anti money laundering officer, the bank said in a memo to . research and events with special focus on electronic trading, banking, and At the core of the new division is the Global Transaction Banking (GTB) business which is an established market leader in Europe, with on the ground presence in 60 countries, The Investment Bank focuses on its traditional strengths in financing, advisory, fixed income and currencies. [16][17], In 2012, Penna co-wrote and directed an original interactive thriller series titled Meridian starring Orlando Jones and Rick Overton in conjunction with Fourth Wall Studios. Salama has been with the bank for more than ten years and currently serves as global head of litigation and regulatory enforcement, as well as general counsel for the Americas. [24] Its theatrical premiere was on February 1, 2019. The finance giant had Cum-Ex clients that were loaned as much as 1 billion euros ($1.13 billion). Among key figures involved in Cum-Ex work at Deutsche Bank, the people said, were Simon Pearson and Joe Penna, former managers who left the bank in 2009. What is your availability? He also chairs the Legal Diversity and Inclusion Council. Nummus went through a customer acceptance procedure, with Deutsche Banks legal department reviewing the contracts and the credit risk management unit conducting due diligence, including a review of the business model and the trading strategy, according to the report. Deutsche Bank launched its US intermediate holding company, DB USA Corporation, on July 1, 2016, under which most of its US-based operations were consolidated as required by the Dodd-Frank Act. In 2009, Penna directed an ad in collaboration with Rhett and Link titled T-Shirt War. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars worth of criminally derived money are laund, The Impact of Rising Interest Rates on Banking Operations, Fintech Innovation in the Payments Industry in 2023, The German banking giant is already embroiled in Danske Bank's money laundering scandal. Nummus specialized in Cum-Ex deals, and the men would have known the nature of its work because of the material they reviewed, according to the report. Email. Will Covid-19 be an opportunity or threat to sustainable development? The company traded only with Deutsche Bank and other Ballance Group companies, according to a Ballance report for the year ended October 2010. But the German lender profited from servicing customers that specialized in such transactions, according to people familiar with a German criminal investigation and an internal review seen by Bloomberg. He was born in Walenstadt,[1] Canton of St. Gallen, Switzerland, raised in Mels in a Catholic home,[2] and is a graduate of the University of St. Gallen (HSG). Privacy Notice Rating(s), 5 Richard Carson was most directly responsible for this shortcoming as the direct supervisor of the manager of the trading desk, the report said. News. John Deere boasted record profits in 2021 and finally struck a deal with striking union workers. It has not been a good couple of months for Deutsche Bank. trending The new details of the case come at a difficult time for Deutsche Bank as it tries to repair its public image and relations with Berlin after a series of fines relating to other trading scandals. Found email list ings include: j***@db.com. Prior roles include Americas Head of Litigation and Head of Legal for the Non-Core Operations Unit. In an email to Reuters he said: I have not seen, nor have been provided with any copies of the reports you mention in your communication. German prosecutors say the schemes participants misled the government into thinking a stock had multiple owners on its dividend payday who were each owed a dividend and a tax credit, according to court documents. News. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Its anti-money laundering and financial crime procedures continue to be the subject of scrutiny from regulators. He will report to Simon and split his time between New York and Frankfurt. Corporate title. Market Intelligence It was shot in Iceland and stars Mads Mikkelsen. Photographer: Krisztian Bocsi/Bloomberg Deutsche Bank acted as the prime broker for several Cum-Ex investors that were Ballance clients, according to the probes findings. Oct. 29, 2020, 11:20 AM. Finance Magnates is a global B2B provider of multi-asset trading news, Sha'ban 11, 1444 H, EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI. Joe Pena's Phone Number and Email Last Update. The company also acted as a custodian and issued tax certificates needed for the deals, they said. Joe Penna. Under his leadership, the AFC team has demonstrated significant progress in the fight against financial crime. [19] Xploration Station went on to receive eight Daytime Emmy Award nominations. Deutsche Bank used tools in its Data Lab in Ireland and open source libraries to mine the bank's information for opportunities. Husband of model Salpa embroiled in German share-trading scandal Total losses from the Cum-Ex trade across Europe have been estimated at 55 billion; Joe Penna was a key figure in the Deutsche Bank unit financing the controversial transactions Barry J Whyte June 23, 2019 Irish model Georgia Salpa with her husband Joe Penna Picture: Xposure Other global banks, including Santander and Macquarie, are also under investigation for their roles in cum-ex trading schemes. One part of the audit addresses Deutsche Banks decision to lend money to companies what the audit calls provision of finance so that those companies could carry out cum-ex trades and the discussion of risks to its reputation. The audit dated April 16, 2015 pointed to significant failings in overseeing two traders, Simon Pearson and Joe Penna, who they say acted as middle men between the clients and the bank departments that lent money to fund the cum-ex scheme and issued tax certificates. Joe Ravi // Shutterstock #89. Deutsche Bank also had a profit-sharing agreement with Ballance in 2009 and 2010 under which it received 30% to 50% of the money the asset manager made, according to people familiar with the findings of the Cologne probe. I was not personally involved in any Cum-Ex activity, and I am very confident that the investigation will show no personal wrongdoing by me, Ritchie said in an email sent by the bank. Stephan and his team has developed, and commenced implementation of, the banks AFC Strategy to address the foundational requirements for robust financial crime risk management. Josef Meinrad Ackermann (born 7 February 1948) is a Swiss banker, former Chairman of the Bank of Cyprus, and former chief executive officer of Deutsche Bank. Authorities grew suspicious and refused to pay Nummus any tax refunds, according to a public filing. On Monday, Frankfurt prosecutors raided residential and business locations in an investigation unrelated to Deutsche Bank. (Bloomberg) -- For over a decade, one of the biggest financial scandals in German history has been snaking its way through Deutsche Bank AG. Some of the companys units organized shares used by short sellers, cooperating with staff remaining at Deutsche Bank who are also being investigated, according to the people. He will report to me and become a member of my Executive Committee. [4] As of January2019[update], his channel has garnered over 2.6 million subscribers, and his videos have accrued nearly 400 million views. I would not accept that there was any failings on my part. The report did not implicate him further in the cum-ex scheme. One part of the audit addresses Deutsche Banks decision to lend money to companies what the audit calls provision of finance -- so that those companies could carry out cum-ex trades and the discussion of risks to its reputation. Steven Reich is now CEO of Deutsche Bank Trust Co. Americas. Manage Cookies, Deutsche Bank Execs Were Aware of Tax Fraud Scheme. Joe is currently based in Florida. , Bloomberg. Cologne prosecutors are still probing the banks activities related to other investors and declined to comment. Subject to regulatory approvals, Salama will succeed Stephan Wilken on July 1, Stefan Simon, Deutsche Bank's Chief Administrative Officer, said in the memo. The documents were obtained as part of a European media investigation coordinated by non-profit newsroom Correctiv. In 2009, Penna was again seen on the front page of YouTube with his video Guitar: Impossible, which has been covered by De Wereld Draait Door, the highest-rated primetime show in the Netherlands. Ballance also hired several other Deutsche Bank employees to work on the Cum-Ex deals. A series of internal audits commissioned by Deutsche Bank and carried out by Freshfields looks at the bank's loans to companies that carried out this type of trade. Reuters has seen the Freshfields documents, as well as thousands of pages of bank files, correspondence and court documents relating to the cum-ex case. [8], Days after retirement and on the eve of a conference call by G7 finance ministers and central bank governors on the continuing European debt crisis, Ackerman said in a speech to the Atlantic Council that "Germany will ultimately take whatever steps [are] necessary to keep the euro zone intact", according to one report. See here for a complete list of exchanges and delays. Deutsche Bank announces additional measures to reinforce net zero commitment, Deutsche Bank and WWF agree on cooperation, A message from Christian Sewing on our full-year results 2022, Deutsche Bank reports 2022 profit before tax of 5.6 billion, Deutsche Bank publishes 2023 SREP requirements, Christian Sewing: "We need an Agenda 2030 for Europe", Global Advisory Board to advise Deutsche Bank on key trends in business and politics, A message from Christian Sewing on Q3 results 2022, Copyright 2023 Deutsche Bank AG, Frankfurt am Main, 0 Read this Term scandal. The information you requested is not available at this time, please check back again soon. It granted one fund a loan of 942 million euros for the trades; another, 743 million euros. I want to work. PDF Transcript Fixed Income Call. [5] At the annual shareholder meeting in late May 2012, he "handed over the CEO baton" to co-CEOs Anshu Jain and Juergen Fitschen. Reuters contacted the lawyer who would not confirm that he represented either, citing client confidentiality. We will update you on our priorities and respective changes in the organization by mid of June. Deutsche issued Seriva with 5.8 million euros of withholding tax certificates, allowing Seriva to make claims for tax rebates. View detailed DB description & address. The documents, seen by Reuters, suggest that Deutsche traders discussed the associated reputational risk and concluded that it was acceptable, although they add that the evidence is "not clear-cut.".