Some Deutsche Bank Employees Kept Email Access After Being Fired
(Bloomberg) -- Some former Deutsche Bank AG employees were able to access the bank’s email system for weeks after they were fired when the firm exited its equities trading business.
The bank has reviewed almost all the communication and found no evidence of “price-sensitive information being communicated or of any other wrongdoing,” a spokesman for the lender in Frankfurt said in a statement. Access to trading systems was immediately turned off when the employees were let go, he said.
“A small number of employees continued to have access to their work emails through personal devices for a limited period of time,” he said. “Access to work emails has now been fully revoked.”
The incident underscores long-running deficiencies in the bank’s controls and computer systems, which have been blamed in part for misconduct that resulted in billions of dollars of fines. Years of expansion left it with systems that couldn’t communicate with each other and didn’t adequately track its business. Chief Executive Officer Christian Sewing is spending 4 billion euros ($4.5 billion) on tackling the issue over the next years and the bank recently passed a stress test in the U.S. that it had failed previously over poor controls.
The Financial Times, which broke news of the email issue, put the number of former staff able to access their email at 50 and said one equity salesperson sent 450 messages via remote access after her dismissal. The Deutsche Bank spokesman declined to comment on these details when asked by Bloomberg.
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