Deutsche Bank’s Trump Links Will Prove Sticky
The German lender won’t find it as easy as some institutions to distance itself from the president it financed.
Deutsche Bank’s Wall Street business is key to its strategy in investment banking.
Photographer: Michael Nagle/BloombergFrom tech giants to sports organizations to academia, institutions in the U.S. are halting political donations and distancing themselves from Donald Trump after his supporters stormed the Capitol. Unfortunately for Deutsche Bank AG, a key lender to the twice-impeached president’s commercial activities, an association that attracts troublesome headlines is going to last for some time.
Germany’s biggest bank’s relationship with Trump dates back to the early 1990s. Following last week’s rioting, the lender appears intent on pulling back. It won’t be conducting further business with Trump, nor his company, Bloomberg News reported on Tuesday. Separately, the firm’s head of the Americas took to LinkedIn to denounce last week’s violence, saying “[we] stand by those who seek … to ensure that the will of the people is upheld and a peaceful transition of power takes place.”