Trump's main banker at Deutsche Bank just announced her resignation

  • President Donald Trump's main banker at Deutsche Bank is leaving the company, according to the New York Times.
  • Rosemary Vrablic, a managing director at the bank, will step down on Dec. 31 after working with Trump for years.
  • Deutsche Bank stuck with Trump through several turbulent periods in his business career, loaning him billions of dollars over decades.
  • As legal scrutiny mounted over Trump's business dealings mounted throughout his first term in office, Deutsche Bank has reportedly looked to sever ties with him.
  • Visit Business Insider's homepage for more stories.

President Donald Trump will need a new go-to contact at Deutsche Bank upon leaving office, with his longtime banker at the firm announcing her resignation on Tuesday, according to the New York Times.

"I've chosen to resign my position with the bank effective Dec. 31 and am looking forward to my retirement," Rosemary Vrablic, a managing director at the bank, said in a statement to the Times.

Vrablic's reason for leaving remains unclear, according to the Times report.

Trump's relationship with Deutsche Bank and its billions of dollars in loans to his business over the years have drawn heavy scrutiny since he took office.

The company also opened an internal investigation back in August into a 2013 deal between Vrablic and Jared Kushner, Trump's son-in-law and senior adviser.

Deutsche Bank has been the most consequential financial institution for Trump in the latter part of his business career, with the bank continuing to loan him money when many others refused.

As Trump's business dealings have come under mounting legal scrutiny, particularly in New York, Deutsche Bank has looked to sever ties with him, according to Reuters.

Because President Trump has never released his tax returns, reporting by the New York Times remains the most comprehensive look into his murky finances. Several investigative stories from the Times revealed Trump following a pattern of paying little to no federal income taxes because he was able to write off substantial business losses.

Read more: A day in the life of a Deutsche Bank managing director before the pandemic, who used to spend 10 days a month traveling and would work out twice a day even while on business trips

How Deutsche Bank stuck by him through so much turbulence in his business career has perplexed experts.

The bank's own anti-money laundering specialists flagged several transactions involving Trump and Kushner from 2016 and 2017, according to another Times report from 2019.

The Times found that top brass at Deutsche Bank rejected the specialists' advice and never reported any of it to authorities.

Source: Read Full Article