Exclusive: Deutsche Bank suspends currency trader

Thu Jan 30, 2014 6:39am EST
 
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By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) - Deutsche Bank has suspended the head of its emerging markets foreign exchange trading desk in New York in connection with ongoing investigations into the alleged manipulation of the global currency market, a source familiar with the matter said.

Diego Moraiz, who has been with the bank since 2004 and has specialized in trading the Mexican peso, was told by the bank on December 18 that he was suspended, the source said.

Moraiz's suspension came after an external consulting firm hired by Deutsche Bank examined emails and communications in chatrooms going back seven years, the source said.

The specific reason for the suspension is unclear. Reuters couldn't determine which consulting firm had been retained.

The source did not know whether Moraiz was still being paid or when the investigation will be completed. Moraiz, who is from Argentina, remains in the United States, the source said.

The source spoke on condition of anonymity because the investigation is an internal bank matter and is continuing.

Moraiz did not respond to several phone calls from Reuters.

Deutsche Bank spokesman Sebastian Howell said the bank does not comment on individual staff.   Continued...

 
The headquarters of Deutsche Bank are pictured in Frankfurt October 29, 2013. REUTERS/Ralph Orlowski