Rosemary Vrablic, a Deutsche Bank managing director and President Donald Trump’s personal banker for nearly a decade, will leave the firm at the end of the year after her business deals involving the president became the subject of multiple investigations.
- First reported by The New York Times, Vrablic’s resignation follows the opening an internal investigation by Deutsche Bank in August into her $1.5 million purchase along with two colleagues in 2013 of a New York City apartment from a company partially owned by Jared Kusher, a White House adviser and Trump’s son-in-law, who was her client at the time.
- The Times reported Vrablic’s colleague Dominic Scalzi, who purchased the Park Avenue property with her, will also leave Deutsche Bank.
- Just weeks ago, prosecutors from the Manhattan district attorney’s office reportedly interviewed Deutsche Bank employees in a probe of the Trump Organization.
- New York Attorney General Letitia James opened an investigation into Trump’s financial dealings early last year after Trump’s former personal attorney Michael Cohen testified before Congress that the Trump Organization inflated the value of its assets to mislead investors.
- Forbes estimates the president owes the German bank $340 million backed by struggling properties.
Vrablic, who along with Scalzi came to Deutsche Bank in 2006 from Bank of America, and is one of its most successful private bankers. Five years into her tenure, she took Trump on as a client after being introduced to the future president by Kushner, according to the Times. Up until then, Trump had a troubled relationship with the lender, having defaulted on a $640 million loan in 2008. Forbes estimates Trump owes at least $1 billion in total debt.