Deutsche Bank Tech Issue Causes Six-Hour Email Outage in U.S.
The German lender has faced a number of technology and operational lapses in recent years.
(Bloomberg) -- Deutsche Bank AG, which has been working to improve its technology, faced a systems outage in which email was unavailable for thousands of employees on Friday.
"Earlier today, we experienced an email outage that impacted DB employees in the Americas region. We have since resolved the issue and restored access for employees," Deutsche Bank spokesman Troy Gravitt said in a statement. Trading was not affected, he said.
The issue lasted for about six hours on Friday, according to people familiar with the matter, asking not to be identified discussing internal matters. The issue was blamed on an external provider and the system is now back online, one of the people said, adding that the lost messages have been largely recovered.
The German lender has faced a number of technology and operational lapses in recent years, including the accidental transfers of payments between clients. Chief Executive Officer Christian Sewing said he would spend 13 billion euros ($14 billion) on technology by 2022 to improve the firm’s systems, and hired AQR Capital Management executive Neal Pawar in recent weeks to push forward the effort.
"In our recent strategy update, we identified technology as a cornerstone for success,” Frank Kuhnke, group chief operating officer, said in a statement last month when Pawar was hired.
To contact the reporters on this story: Sonali Basak in New York at sbasak7@bloomberg.net;Kiel Porter in Chicago at kporter17@bloomberg.net;Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net
To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Daniel Taub
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