Deutsche Bank’s Compliance Revamp to Be Bumpy Journey

Deutsche Bank is going for long-term solutions rather than quick fixes in setting up its new compliance team to ensure the bank can put behind it the problems that have cost it billions of euros in fines, the bank’s regulatory boss said.Nearly a decade on from the financial crisis, Deutsche Bank is still struggling to recover from a string of scandals and costly litigation. It has already paid more than 12 billion euros ($13.5 billion) since 2012 to resolve issues such as the rigging of interest rates, carbon trading fraud schemes and sanctions violations. Germany’s biggest bank is also fighting a $14 billion demand from the U.S. Department of Justice to settle a mortgage mis-selling case.