Emma Slatter, the head of strategy in the legal department at Deutsche Bank, is leaving the firm, according to a memo seen by Business Insider.
Slatter, who had been UK regional general counsel before her most recent role, was part of the team charged with resolving Deutsche Bank’s legal woes.
Among the issues it faces are an SEC investigation over mortgage securities it traded in 2013. It is also adressing the issue of currency-rate manipulation by its traders, and reportedly facing probes into money laundering by Russian clients.
Just last week Financial News ran a profile of Slatter that explained her new job including where and how to deploy its 900 person legal operation — not just to adress regulatory probes, but also as the company’s new Chief Executive John Cryan reshapes the bank with as many as 160 projects.
Slatter is planning on setting up as a consultant, advising on a range of business ventures, according to the memo, which was sent by Chris Dodds and Christof von Dryander, joint global general counsels.
Deutsche Bank’s legal strategy has been a point of contention among its senior executives.
New CEO John Cryan in February said that he was personally investing time in resolving open regulatory and legal cases. And in mid-April, it announced a new global head of compliance and new global head of anti-financial crime.
But then in late April Alfred Herling, the deputy chairman at Deutsche Bank, publicly criticised Georg Thoma, another board member, for deploying too many lawyers and spending too much time pursuing wrongdoing. Thoma later stepped down from the board.