- REUTERS/Kai Pfaffenbach
Emma Slatter, the head of strategy in the legal department at Deutsche Bank, is leaving the firm, according to a memo seen by Business Insider.
Slatter, who had been UK regional general counsel before her most recent role, was part of the team charged with resolving Deutsche Bank’s legal woes.
Deutsche Bank declined to comment.
Among the issues it faces is an investigation by the US Securities and Exchange Commission over mortgage securities it traded in 2013. It is also addressing the issue of currency-rate manipulation by its traders and is reportedly facing investigations into money laundering by Russian clients. Just last week Financial News ran a profile of Slatter that explained her new job, including where and how to deploy Deutsche Bank’s 900-person legal operation – not just to address regulatory investigations but also as the company’s new CEO, John Cryan, reshapes the bank with as many as 160 projects.
Slatter is planning on setting up as a consultant, advising on a range of business ventures, according to the memo, which was sent by Chris Dodds and Christof von Dryander, joint global general counsels.
Deutsche Bank’s legal strategy has been a point of contention among its senior executives.
Cryan in February said he was personally investing time in resolving open regulatory and legal cases. And in mid-April the bank announced a new global head of compliance and new global head of anti-financial crime.
But then in late April, Alfred Herling, the deputy chairman at Deutsche Bank, publicly criticized Georg Thoma, another board member, for deploying too many lawyers and spending too much time pursuing wrongdoing. Thoma later stepped down from the board.