By Kim Velsey 11/05/12 7:27pm

Manhattan Transfers

Mr/. Jain's spot to stay while in the states?

Deutsche Bank Boss Anshu Jain Invests In $7.2 M. Beacon Court Spread

Deutsche Bank CEO Anshu Jain has played a central role in building the bank’s investment banking business over the years, the arm that accounts for the lion’s share of Deutsche’s profits. So it should come as no surprise that Mr. Jain, who took over as Co-CEO of the bank with Jürgen Fitschen in May, decided to plunk some of his personal funds into the New York real estate market.

While $7.2 million—the amount Mr. Jain paid for the two-bedroom, 2.5-bath condo at 151 East 58th Street— might seem like a fortune to most of us, it’s pretty much a pittance for the bank boss. And we’re pretty sure it’s a pied-a-terre as the Indian-born British citizen keeps a primary residence in London with his family and owns another place in Frankfurt.  Read More

By Patrick Clark 10/15/12 1:09pm

L.A. Story

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Deutsche Bank Exec Beaten By LAPD Allegedly Copped to Previous Bath Salts Use

Remember Brian Mulligan? He’s the Deutsche Bank executive who filed a $50 million claim with the city of Los Angeles after suffering a broken shoulder blade and 15 nasal fractures in a run-in with LAPD in May.

The details of the case have been hard to figure from the start. Mr. Mulligan said cops kidnapped him to a cheap hotel and threatened to kill him if he left the premises, then beat him badly when they found he’d escaped. The police said Mr. Mulligan admitted to using marijuana and bath salts, then assumed a karate stance and charged officers.

Well, the details are still hard to figure, but The Los Angeles Times has a story that lends some credibility to the LAPD’s claims. According to The Times, Mr. Mulligan walked into a police department headquarters in Glendale, Calif., and asked for help dealing with his substance use: Read More

By Patrick Clark 9/12/12 7:49am

Morning Read

Morgan Stanley and Citigroup Reach Deal; UBS Whitsleblower Got Prison Sentence, $104 Million: Roundup

Morgan Stanley and Citigroup agreed to value Morgan Stanley Smith Barney at $13.5 billion, more than the outside bankers hired to mediate the deal said the joint venture brokerage was worth. According to Bloomberg, Perella Weinberg Partners priced the brokerage at the lower end of the difference between valuations submitted by Morgan Stanley and Citi, which would have resulted in a final price of less than $11.5 billion. The banks agreed on the higher value, however, fixing the price at which Morgan Stanley will acquire Citi’s stake in the partnership. Read More

By Patrick Clark 9/04/12 4:05pm

Free advice

airport

Service Journalism for Libor Manipulators

These are precarious times for the employees of financial firms, what with regulators elbowing each other over the biggest and best cases, looming criminal charges arising from the Justice Department’s Libor investigation, to say nothing of the SEC’s willingness to target middle managers (i.e. Brian Stoker), criminal investigations into JPMorgan’s trading losses, recent verdicts in municipal bond bid-rigging cases, etc. Point being, there’s plenty to worry about that. Read More

By Patrick Clark 8/28/12 9:21am

L.A. Story

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Details Trickle Out in LAPD Beating of Deutsche Banker Brian Mulligan

When we last left the story of Brian Mulligan, Los Angeles-based vice chairman of Deutsche Bank’s media business, we were struggling to entangle conflicting accounts. The LAPD leaked a report to a local press in which Mr. Mulligan told cops he was high on bath salts and marijuana, and hadn’t slept in four days—then assumed a karate stance and charged at officers. Mr. Mulligan’s lawyers, meanwhile, said LAPD deposited Mr. Mulligan at a run-down motel and threatened to kill the banker if he left—then beat him to the tune of a broken shoulder blade and 15 nasal fractures. Read More

By Patrick Clark 8/08/12 7:55am

Morning Read

Ben Lawsky Gains ‘Rogue Regulator’ Moniker After Standard Chartered; Hedge Funds’ Fight Over Madoff Claims: Roundup

Rogue bank or rogue regulator? That was the subject of some debate yesterday, after New York’s top banking regulator, Ben “long-arm-of-the” Lawsky, filed an order alleging that Standard Chartered Bank had conducted $250 billion in off-limits business with Iranian banks. According to The New York Times, the Department of Justice, Federal Reserve and the Treasury, among other authorities, had been debating the extent of Standard Chartered’s wrongdoing. In April, Mr. Lawsky’s deputies told federal authorities that DFS planned to move forward with the case, but it wasn’t until Monday morning that the state agency alerted the Feds that it was about to file the explosive order.  Read More