Politics

Trump’s private bankers resign from Deutsche Bank

A man is seen outside the US headquarters of Deutsche Bank on July 8, 2019 in New York City. - From Asia to the United States, disconsolate staff at Deutsche Bank dealt Monday with news of massive layoffs with some already heading to the exits to drown their sorrows.The German giant's share price fell to a low of 6.66 euros ($7.47) before closing down 5.4 percent at 6.79 euros, following Sunday's announcement of 18,000 job losses by 2022 as the company transitions out of high-risk investment banking. (Photo by Angela Weiss / AFP) (Photo credit should read ANGELA WEISS/AFP via Getty Images)

(CNN) — The private bankers responsible for lending to President Donald Trump and Jared Kushner have resigned from Deutsche Bank, the bank said.

“Rosemary Vrablic and Dominic Scalzi have tendered their resignations to Deutsche Bank effective as of year-end, which was accepted by the bank,” Daniel Hunter, a spokesman for the bank said in a statement.

Vrablic and Scalzi have worked closely together for years since joining Deutsche Bank a decade ago. Vrablic was a trusted contact to the Trump Organization and Kushner and assumed the bank’s lending relationship with Trump in the private side of the bank after the commercial lending division stopped doing business with Trump.

Deutsche Bank has loaned the Trump Organization more than $300 million.

In a statement Vrablic said, “I’ve chosen to resign my position with the bank effective December 31 and am looking forward to my retirement.”

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The Trump Organization is under investigation by the Manhattan District Attorney’s office and New York Attorney General and both agencies have subpoenaed the bank about its lending relationship with the company.

Investigators are looking into whether the Trump Organization mislead or defrauded the lender by inflating the value of some of its assets, according to court filings.

In recent weeks two Deutsche Bank employees were questioned by investigators with the criminal investigation and asked general questions about lending practices. The employees did not work on the Trump account.

Vrablic has direct knowledge of Trump’s relationship with the bank as she handled the account in recent years.

A lawyer for Vrablic declined to comment on the investigations.

“Ms. Vrablic is committed to cooperating with the authorities if asked,” her lawyer said.

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