FRANKFURT, March 12 (Reuters) – Four former Deutsche Bank employees are seeking more than 600 million pounds ($800 million) in damages from Germany’s largest lender in a case involving Italian bank Monte dei Paschi, Deutsche Bank disclosed in an annual report on Thursday. The claims, filed in English courts, are “without merit”, Deutsche Bank said. […]
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Former Deutsche Bank employees seek $800 million in damages in Monte dei Paschi case
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FRANKFURT, March 12 (Reuters) – Four former Deutsche Bank employees are seeking more than 600 million pounds ($800 million) in damages from Germany’s largest lender in a case involving Italian bank Monte dei Paschi, Deutsche Bank disclosed in an annual report on Thursday.
The claims, filed in English courts, are “without merit”, Deutsche Bank said.
The lawsuits are known but the amount of damages sought has not yet been made public.
The sum comes on top of a 152 million euro ($175.58 million) claim by a fifth banker in a Frankfurt court that was filed in 2024 and is slated to be heard later this year.
The plaintiffs in the case allege that Deutsche Bank harmed their careers.
Deutsche Bank said it “will defend itself against them robustly, including disputing the inflated, unrealistic alleged losses claimed”.
The claims in 2025 coincided with the lender’s most profitable year since 2007, resulting in a lift in pay for CEO Christian Sewing.
His compensation was an estimated 10.5 million euros ($12.12 million) for 2025, up from 9.75 million euros for 2024, the bank also disclosed in its annual report.
($1 = 0.7473 pounds)
(Reporting by Tom Sims and Matthias Inverardi, editing by Thomas Seythal, Miranda Murray and Friederike Heine)