Deutsche Bank agreed to a settlement with ex‑investment banker Schiraldi, ending a dispute in which Schiraldi claimed the bank owed him €152 million. The settlement amount was not disclosed but is reported to be €152 million.
Hannover Re and Munich Re highlighted the surge in climate‑driven disasters across Europe this summer, which caused billions of euros in losses, and warned that such weather‑related damages are likely to rise further.
Christian Bettinger, who oversaw the investment strategy for interest‑rate securities and managed more than one billion euros at a Hamburg private bank, is moving to a newcomer fund boutique in the city.
Christian Bettinger, who managed more than one billion euros in fixed‑income assets at Berenberg, is moving to a new funds boutique in Hamburg.
The German care insurance is set to be reformed, potentially reducing benefits for family caregivers. However, some services and financial aids remain available for use during the current year, providing a temporary relief before the new rules take effect.
Pimco, the world’s largest fixed‑income manager and an Allianz subsidiary, said that investors are not being adequately compensated for the risk of increasingly popular complex structured products such as collateralized fund obligations, likening them to subprime instruments.
The German long-term care insurance system is set to undergo a reform. While the changes may reduce financial support for many family caregivers, certain benefits remain available for use during the current year.
In an interview, LEG Immobilien CEO Lars von Lackum discussed the challenges facing the German rental market, emphasizing that a rental apartment is more than just a financial asset and highlighting the impact of decaying housing stock in former East Germany.
Lufthansa failed to qualify for entry into the DAX index and will remain outside the main index for now; adjustments are being made in the MDax and SDax sub‑indices instead
The DAX ended its losing streak on Thursday evening with a gain. On Friday, investors will focus on the US labor market, economic data, and Volkswagen’s restructuring plan.