Deutsche Bank Purchases Ads to Apologize for ‘Serious Errors’By
CEO Cryan signs ad, expressing ‘our deep regret’ for conduct
Ad in German newspapers blamed ‘misconduct of a few’ workers
Deutsche Bank AG bought full-page ads in all major German newspapers over the weekend to apologize for “serious errors” after two years of losses that cost the lender billions of euros.
Legal cases that date back many years cost the Frankfurt-based company “reputation and trust” in addition to about 5 billion euros ($5.4 billion) since John Cryan took over as chief executive officer in 2015, the ad said, blaming the “misconduct of a few” employees…
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