September 14, 2015 / 7:11 AM / 4 years ago

Deutsche Bank's Russia chairman exits, as bank faces bribery probe

MOSCOW, Sept 14 (Reuters) - The chairman of Deutsche Bank’s Russia unit will quit Moscow for Germany, the lender has announced, a high-profile departure against the backdrop of an ongoing bribery investigation.

Joerg Bongartz, Deutsche Bank’s management board chairman and head of global transaction banking in Russia since 2006, will move to Frankfurt to focus on business in central and eastern Europe, the bank said in a statement over the weekend.

His departure comes as Deutsche Bank and the U.S. Department of Justice are investigating accusations of bribe-taking by senior staff members and questionable share trades involving the bank’s Moscow office.

The bank suggested Bongartz’s departure from Russia was not related to the investigation. “This move has been long planned,” it said. (Reporting by Oksana Kobzeva; Writing by Jack Stubbs; Editing by Andrew Osborn)

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