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Deutsche Bank accidentally sent client $6 billion

by

LONDON Oct 21, 2015 - 12:00 am GMT+3
by Oct 21, 2015 12:00 am
Deutsche Bank, Germany's biggest lender, accidentally sent $6 billion to a client after entering the wrong numbers, Bloomberg News reported on Monday. A junior member of the investment bank's foreign exchange sales team made the error in June, Bloomberg reported, citing a person briefed on the situation. The $6 billion was sent to a U.S. hedge fund client and recovered one day later, and occurred after the employee used a "gross figure, rather than a net figure," according to the report. The incident follows a series of scandals at the Frankfurt-based bank, which launched a major business and management shake-up this weekend. Its two co-CEOs Anshu Jain and Juergen Fitschen resigned in June over missed profit targets and missteps, and were replaced by new co-CEO John Cryan.
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