Ballance also hired several other Deutsche Bank employees to work on the Cum-Ex deals. articles a month for anyone to read, even non-subscribers! They are dated from 2013 to 2015 and marked highly confidential. Please join me in thanking Stephan for his work and wishing Joe all the best in his new role. As it attempts to stymie ongoing losses, it has also been caught up in Danske Banks Estonian Money Laundering I am pleased to announce that the Management Board has appointed Joe Salama as Global Head of Anti-Financial Crime (AFC) and Group Anti Money Laundering Officer. Ford selected Penna as a Fiesta Agent for the 2009 Ford Fiesta Movement. Will Covid-19 be an opportunity or threat to sustainable development? The controversial transactions -- widely reported to have cost German taxpayers more than 10 billion euros -- involved the sale of borrowed shares just before a company was due to pay a dividend. In November 2014 he was elected as chairman of the board of directors of the Bank of Cyprus following the proposal of the new major shareholder of the bank Wilbur Ross, who later became the Commerce Secretary in the Trump Administration. Jan 2017 - Jun 20214 years 6 months. Contact Head Office U.S.A. Deutsche Bank One Columbus Circle New York, NY, 10019 Telephone: +1(212) 250-2500 See Photos. Last month, the German financial regulator BaFin ordered Deutsche Bank to enact further safeguards to prevent money laundering, a blow to the bank's efforts to repair its reputation. View Joe Pehar's profile on LinkedIn, the world's largest professional community. Find other Joe Pennas on Spoke Contact Telephone Email Background Report Public Records powered by Digital Info Resume EDIT CAREER Deutsche Bank EDIT EDUCATION Blogs By Industry Voices Achievements and Recognition Husband of model Salpa embroiled in German share-trading scandal Within 6 hours, it became the third most subscribed channel in Brazil.[1]. More: The Tax Dodge That Cost the German Treasury Billions of Euros. Joe Pehar - Managing Director - Structured Finance - LinkedIn Authorities grew suspicious and refused to pay Nummus any tax refunds, according to a public filing. [22][23] Arctic garnered enthusiastic reviews as an Official Selection for the 2018 Cannes Film Festival. In 2009, Penna directed an ad in collaboration with Rhett and Link titled T-Shirt War. Penna maintains the YouTube channel MysteryGuitarMan. Joe Ravi // Shutterstock Show More Show Less. Search Roles - Deutsche Bank Careers Photographer: Krisztian Bocsi/Bloomberg From raising children, to caring for family members, taking a career break can be challenging, but these experiences away from the office can expand skill sets and widen perspectives. Deutsche Bank's Ties to Cum-Ex Scandal Ran Deep in Prime Unit The documents, seen by Reuters, suggest that Deutsche traders discussed the associated reputational risk and concluded that it was acceptable, although they add that the evidence is "not clear-cut.". Nummus went through a customer acceptance procedure, with Deutsche Banks legal department reviewing the contracts and the credit risk management unit conducting due diligence, including a review of the business model and the trading strategy, according to the report. 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On this Wikipedia the language links are at the top of the page across from the article title. Search Reset. One part of the audit addresses Deutsche Banks decision to lend money to companies what the audit calls provision of finance so that those companies could carry out cum-ex trades and the discussion of risks to its reputation. Last year, Deutsche Bank settled a probe by Frankfurt prosecutors into the Nummus work for 4 million euros. Prosecutors have been conducting a criminal probe into some of the biggest names in European and U.S. finance, looking at the roles played by banks, law firms and others. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Editing by Peter Graff, US Justice Dept warns of steeper penalties for firms that fall foul of messaging policies, Analysis: US Republicans aim to stymie gun sale codes at state level, Factbox: A look at proposed US state laws to curb new gun merchant code, Biden administration announces plan to stop water plant hacks, American Airlines, flight attendants union seek mediation in contract negotiations, Media report that UAE considering leaving OPEC not true - sources, Private equity firms lend less as demand cools, Nissan and Mexican workers agree to 9% raise at Morelos plant, union says, Brazil's Petrobras faces legal risks after halting asset sales -lawyers, Exclusive news, data and analytics for financial market professionals. Joe Penna. A German probe found that Deutsche Bank even had a profit-sharing agreement with one firm that specialized in the transactions, according to people familiar with the findings. [5] At the annual shareholder meeting in late May 2012, he "handed over the CEO baton" to co-CEOs Anshu Jain and Juergen Fitschen. Deutsche Bank 24 years 4 months Managing Director - Structured Finance - Head of West Coast Deutsche Bank . Investment Bank Private Bank Awards Client logins Locations worldwide Mobile services Reports Responsibility Sustainability Sustainability Deep Dive Society Art, Culture & Sports Responsibility reports Focus topics Cloud Corporate venture capital Deutsche Bank at COP Digital disruption Entrepreneurial success Innovation network Responsible growth But the German lender profited from servicing customers that specialized in such transactions, according to people familiar with a German criminal investigation and an internal review seen by Bloomberg. Joe Pena's Phone Number and Email Last Update. The audit dated April 16, 2015 pointed to significant failings in overseeing two traders, Simon Pearson and Joe Penna, who they say acted as middle men between the clients and the bank departments that lent money to fund the cum-ex scheme and issued tax certificates. In order to get their plan, however, Deutsche Bank had to give money to companies with which to do the transactions in question, in return for them to obtain tax preferences. Joe is currently based in Florida. The industry leader for online information for tax, accounting and finance professionals. Will greater investment in water resources make for a more sustainable future? Deutsche Bank won't do any more business with Trump - CNN Laura Scott ankleboot Nero Nuovo PUMPS - Ctexperiential.org Joe Pena works at Deutsche Bank, which is a Banking company with an estimated 83,000 employees. Regulators around the world vigilantly monitor the progress we have made, and we are working diligently to comply with the requirements. The Annual Report 2021 includes an overview of Deutsche Bank, the management report with the compensation report, the bank's audited consolidated financial statements, the corporate governance statement and supplementary information. In 2010, Penna's Root Beer Mozart"l was featured on CNN's morning show Morning Express with Robin Meade and on Germany's nationally broadcast Taff show. German authorities say that dozens of banks and brokerages in London and other global financial hubs helped investors siphon off billions of euros from the national treasury with the transactions over the course of a decade. Joe will play an important role in this review. The company traded only with Deutsche Bank and other Ballance Group companies, according to a Ballance report for the year ended October 2010. The Freshfields audits say the two traders were aware the prime brokerage services were being used to help other companies carry out cum-ex deals. Read this Term scandal. Find your friends on Facebook. Deutsche Bank Elevates Top Americas Lawyer to Trust Company Role The law firms report, delivered in 2013 and seen by Bloomberg News, describes how Pearson brought on Nummus as a new client. Best Buy announced Penna as the $15,000 winner of their Tech-U-Out Video Challenge. investing. Deutsche Bank ( CEO, 2002-2012) Bank of Cyprus ( Chairman, 2014-2019) Josef Meinrad Ackermann (born 7 February 1948) is a Swiss banker, former Chairman of the Bank of Cyprus, and former chief executive officer of Deutsche Bank. (Charles W. Lamb; Carl McDaniel; Joe F. Hair) Business-To-Business Marketing (Robert P. Vitale; Joseph Giglierano; Waldemar Pfoertsch) Cognitive Psychology (Robert . [9] Shortly after uploaded, his "Guitar: Impossible" video was featured on the MSN.com front page. Attempts to reach Penna were unsuccessful. Bank provided services to clients exploiting tax loophole, Lender says it never directly participated in Cum-Ex deals. Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. A person involved in the case gave Reuters the name of a lawyer he said represented Pearson and Penna. Subject to regulatory approvals, Salama will succeed Stephan Wilken on July 1, Stefan Simon, Deutsche Bank's Chief Administrative Officer, said in the memo. [14], In June 2010, Penna was highlighted by CNN Money on their Best Jobs series. The bank issued tax certificates for withholding tax that had never been deducted and made loans to clients to allow them to participate in the scheme to claim tax rebates, according to the audits. The mens work and Ballances role are described in detail in an indictment Cologne prosecutors filed in April against two former London bankers who worked at Ballance, according to the people. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Deutsche Bank profited by lending money to buyers and shares to short sellers in the transactions, said the people, asking not to be identified because the probe isnt public. Barclays Capital, and Deutsche Bank. All quotes delayed a minimum of 15 minutes. This special highlights the best of the fifth annual event which was held in Singapore from November 14-17. [3], By January 2011, MysteryGuitarMan became the most subscribed channel in Brazil. What we do - Deutsche Bank [4], Ackermann agreed at the end of 2009 to continue as chief executive of Deutsche Bank for another three years until 2013. In recent years, Joe has negotiated almost all of our major AFC-related legal settlements and has been a key contact for our monitors as well as for regulators and enforcers worldwide. German prosecutors say the schemes participants misled the government into thinking a stock had multiple owners on its dividend payday who were each owed a dividend and a tax credit, according to court documents. [4] As of January2019[update], his channel has garnered over 2.6 million subscribers, and his videos have accrued nearly 400 million views. Jnatas "Joe" de Moura Penna (born May 29, 1987) is a Brazilian musician and filmmaker best known from both his YouTube channel MysteryGuitarMan and his feature films. He served as chairman of the board from 2002 to 2012. The authorities say the scheme, called cum-ex and involving several other global banks, cost the state 5.6 billion euros in rebates that should not have been paid. Deutsche Bank commissioned law firm Freshfields to write the five audits as part of an internal investigation into its role in cum-ex trading between 2006 and 2011. After Penna and Pearson joined Ballance, Pearson maintained close ties with his former employer. Saint Joseph's University, +1 more. Jnatas "Joe" de Moura Penna (born May 29, 1987) is a Brazilian musician and filmmaker best known from both his YouTube channel MysteryGuitarMan and his feature films. The summit runs Nov. 17 - 19 and addresses current global challenges, digitisation and disruption, innovation and shifts in economy. A German probe found that Deutsche Bank even had a profit-sharing agreement with one firm that specialized in the transactions, according to people familiar with the findings. He resides in Los Angeles, California. Deutsche also provided funding and acquired shares to help a company called Ballance carry out cum-ex deals multiple times between 2009 and 2011, the Freshfields documents say. In June 2019, Penna began shooting on the sci-fi movie Stowaway starring Anna Kendrick and Toni Collette.[25]. According to a Reuters report published on Friday, the German bank misled authorities into thinking that certain stocks had multiple owners. Deutsche Bank. Other global banks, including Santander and Macquarie, are also under investigation for their roles in cum-ex trading schemes. The bank issued tax certificates for withholding tax that had never been deducted and made loans to clients to allow them to participate in the scheme to claim tax rebates, according to the audits. Deutsche Bank Elevates Top Americas Lawyer to Trust Company Role. The audits were prepared by Freshfields in Germany and London. [18], In August 2014, Penna was announced as the host of Xploration Earth 2050, a technology-oriented television series. AI in banking and business what can it do and who stands to gain?