Senior Deutsche Bank officials 'not involved in Libor rigging'

25 July 2012

Senior officials at Deutsche Bank were not part of the lender's role in the Libor manipulation scandal, a preliminary internal investigation has found.

Three insiders with knowledge of the ongoing investigation have told Reuters that while the financier has found that two of its ex-traders may have been involved in collusion, there is no indication such malpractice was committed by its top professionals.

So far, this internal analysis is only in its early stages after getting underway around 12 months ago and the sources noted that it is not yet known when the process will conclude.

However, the initial diagnosis that none of the bank's leaders were aware of or are involved in the rigging is likely to provide some breathing space to co-chief executive Anshu Jain, who used to be in charge of the firm's investment banking arm.

The insiders noted that Deutsche Bank only became aware of its own potential failings when regulators indicated some of its traders may have been involved.

By Gary Cooper

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