NEW YORK: Deutsche Bank AG chief executive officer John Cryan failed to reach an agreement with the US Justice Department to resolve a years-long investigation into its mortgage-bond dealings during a meeting in Washington, Germany’s Bild newspaper reported. Bild said the bank froze part of the millions in bonus payments to Jain and other former top managers. A Deutsche Bank spokeswoman declined to comment to Bild about the outcome of Cryan’s Friday discussion or about clawing back former executives’ compensation. Mark Abueg, a Justice Department spokesman, declined to comment. Concerns about Deutsche Bank’s ability to pay the US$14bil opening settlement bid from the Justice Department sent the lender’s stock to a record low last month.

Source: The Star October 09, 2016 22:18 UTC