Deutsche Bank's Frankfurt headquarters have been searched by investigators looking for evidence related to client transactions. As Sonia Legg reports, it comes just days after the bank appointed a new CEO to help improve the its tarnished image.
It may have chosen a new CEO but the old problems still keep coming. A raid on Deutsche Bank's Frankfurt offices by German prosecutors the latest inconvenience It's thought to be linked Deutsche's purchase of the private bank Sal. Oppenheim. Germany's largest lender would only say prosecutors were seeking evidence related to client securities transactions And no employees had been accused of wrongdoing in the case. That's not the situation in Munich though - where the current co-CEO was appearing in court as the raid took place. Juergen Fitschen is on trial on false testimony charges. He denies misleading investigators in a dispute with the heirs of the Kirch media empire. His appearance came just two days after he announced he would resign from the bank's top job next year. Andrea Titz is a spokeswoman for the court (SOUNDBITE) (German) MUNICH COURT SPOKESWOMAN, ANDREA TITZ, SAYING: "The resignation is irrelevant for this trial because the charges are not related to the current position of the accused at Deutsche Bank." Brit John Cryan will take the helm at Deutsche in July - when the other co-CEO Anshu Jain also leaves. He will have many challenges - including restoring the bank's image in the wake of regulatory and legal problems.