Trump’s private banker quits Deutsche Bank

Donald Trump’s longtime private banker, Rosemary Vrablic, has resigned from Deutsche Bank, the German lender to which the US president owes as much as $340m.

The bank’s New York office confirmed Ms Vrablic’s resignation, which a spokesman said would be effective at the end of the year. Her corporate email had been disabled by lunchtime on Tuesday.

The news, first reported by The New York Times, comes four months after Deutsche opened an investigation into a previously-unknown apartment deal between Ms Vrablic and Jared Kushner, Mr Trump’s son-in-law and White House adviser.

Another private banker who was involved in that apartment deal and included in the internal investigation, Dominic Scalzi, had also resigned, Deutsche confirmed.

A spokesman would not elaborate on the terms of their departures or whether the bank had completed its investigation into the circumstances surrounding the duo’s 2013 purchase of a $1.5m apartment from a company part-owned by Mr Kushner.

Ms Vrablic and her lawyer did not immediately respond to requests for comment. The New York Times story cited her confirming her retirement. Mr Scalzi did not respond to requests for comment.

Ms Vrablic was hired by Deutsche 14 years ago and went on to become the point person between the German lender and Mr Trump, then a celebrity property developer. He turned to Deutsche for a number of financings including for hotels in Chicago and Washington and his Miami golf course.

Mr Trump and Mr Kushner have lavished praise on the banker in recent years. The president once erroneously described her as the “head of Deutsche Bank” in the US and “the boss”, and invited her as a VIP guest to his inauguration. Mr Kushner told a closed-door meeting of the House intelligence committee that Ms Vrablic was an “amazing banker, (an) amazing woman”.

Private banking is one of Deutsche’s smallest businesses in the US but the Trump relationship has been one of its biggest headaches, incurring scrutiny from Congress as it probes the president’s finances.

Mr Trump still owes as much as $340m to the German lender, making it his biggest single creditor among banks, bondholders and other investors who are collectively owed more than $1bn, according to his government financial disclosures and other documents. The loans are generally backed by real estate.

The Deutsche loans include about $125m on the Doral golf course in Miami and about $70m on the Old Post Office building in Chicago, which both mature in 2023.

In June, the Supreme Court ruled that Mr Trump’s financial records could be disclosed to prosecutors in New York, but said a lower court should decide on Congress’s bid to see the records, including some from Deutsche Bank.

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