Deutsche Bank is having a tough run.
The bank mistakenly paid out $US6 billion to a hedge fund client earlier this year as a result of a ‘fat finger’ error, according to Katie Martin and Martin Arnold at The Financial Times.
The term ‘fat finger error’ is commonly reserved for when a bank employee makes a mistake entering information, rather than an actual loss of money.
According to the FT report, the massive sum was repaid to Deutsche Bank the following day.
The German bank announced a major overhaul over the weekend under new CEO John Cryan.
The bank is splitting its corporate banking and securities business in two, and a number of executives close to former co-CEO Anshu Jain will exit the bank.