Trump's longtime banker at Deutsche Bank resigns
(Reuters) - Donald Trump's longtime banker at Deutsche Bank AG will leave the German lender. The move comes as the bank looks for ways to cut its ties with the US president.
Rosemary Vrablic, a managing director and senior banker in the lender's wealth management division, recently filed her resignation, which the bank accepted with effect at the end of the year, Deutsche Bank spokesman Dan Hunter said in a statement sent via email.
According to the New York Times, which first covered Vrablic's resignation, it prompted the lender to extend several hundred million dollars in loans to Trump's company.
The resignation of another longtime Vrablic colleague Dominic Scalzi has also been accepted by the bank, Hunter said, without giving the reasons for the resignation.
Vrablic and Scalzi joined Deutsche Bank from Bank of America in 2006.
The Times reported that Deutsche Bank opened an internal review in August of a real estate transaction between Vrablic and Scalzi in 2013 and a company owned in part by Jared Kushner, Trump's son-in-law and Vrablic client.
Reuters reported last month that after the US election, Deutsche Bank was looking for ways to end its relationship with Trump after the relationship generated negative publicity.
The German bank, which first loaned Trump in the late 1990s, was dragged into congressional and other investigations to investigate the real estate mogul's finances and alleged links with Russia.
As of November, Deutsche Bank had made approximately $ 340 million in loans to the Trump Organization that are currently overseen by his two eldest sons.
(Reporting by Kanishka Singh and Shradha Singh in Bengaluru; Editing by Maju Samuel and Bill Berkrot)
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