Deutsche Bank reached a confidential settlement in Frankfurt with former employee Dario Schiraldi just days before the trial. Schiraldi, who previously led the large-client business division, had sought approximately €152 million ($176.62 million) in damages, claiming the bank's 2008 derivative dealings with Italy's Monte dei Paschi di Siena destroyed his career and reputation.
The dispute centered on 2008 derivative transactions with Monte dei Paschi di Siena, which prosecutors argued were used to hide financial losses. While Milan prosecutors secured a conviction in 2019, the ruling was overturned on appeal in 2023, resulting in acquittals.
Deutsche Bank now faces additional claims in London related to the same MPS derivative transactions. The total exposure in these London proceedings is reported to exceed £600 million, or approximately €700 million, representing a more significant financial risk than the Schiraldi case.
