Financial Business Recap: JPMorgan Latest Inquiry, Deutsche Bank’s New COO

Shares of JPMorgan Chase & Co. (NYSE:JPM) moved down modestly on the day, as reports surfaced that it faces a money-laundering probe by the United States Comptroller of the Currency over whether it failed to monitor transactions that allegedly let criminals launder money.

Don’t Miss: Regulators Keep SPOTLIGHT Pointed At Big Banks.

The government of Russia will finally initiate the divestiture of its $5 billion stake in Sberbank Russia (SBRBF.PK), following more than a year of postponements. The stake comprises about 7.6 percent of the bank’s worth, and the sale marks a re-start of privatization in the country.

Deutsche Bank AG (NYSE:DB) chooses for its new chief operations officer Jon Eilbeck, the former head of its global rates and commodities operations. Eilbeck will oversee DB’s wealth management unit, whose profits have been declining. The business has €900 billion, or $1.2 trillion, under management and Deutsche anticipates that integration efforts will permit it to bring a €1.7 billion annual pretax profit by the year 2015.

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