Report: Deutsche lost $400M in equity derivatives

Deutsche Bank AG lost more than $400 million on equity derivatives as the stock markets fell in the wake of the financial crisis, two people familiar with the matter told Bloomberg.
OCT 28, 2008
By  Bloomberg
Deutsche Bank AG lost more than $400 million on equity derivatives as the stock markets fell in the wake of the financial crisis, two people familiar with the matter told Bloomberg. The loss is equal to almost half of the Frankfurt, Germany-based bank’s second-quarter revenue from equity sales and trading and may signal more job losses at the bank, according to the report. Deutsche Bank will record its second quarterly loss of the year on write-downs and slowing revenue from investment banking, according to a survey of six analysts. The bank said equity sakes and trading revenue fell 49% in the first half of the year as customers stayed away from structured products. Deutsche Bank shares fell 4.57 euros ($5.73) per share, or 15%, to close at 25.69 euros ($32.24) in Frankfurt trading. A call to Deutsche Bank was not immediately returned.

Latest News

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave