Longtime Deutsche banker for US President Donald Trump to resign

The relationship with Mr Trump has subjected the bank to legal inquiries and criticism

FILE PHOTO: The logo of Deutsche Bank is pictured on a company's office in London, Britain July 8, 2019. REUTERS/Simon Dawson/File Photo

US President Donald Trump's longtime banker at Deutsche Bank will be stepping down from the German lender.

Rosemary Vrablic, a managing director and senior banker in the lender's wealth management division, recently handed in her resignation, which the bank accepted effective as of the end of the year, Dan Hunter, a spokesman for the lender, confirmed. The New York Times first reported on her departure.

Ms Vrablic, who worked in the private banking division, helped manage Mr Trump’s relationship with the bank as the German lender lent hundreds of millions of dollars of loans to Mr Trump’s company over a number of years.

The relationship between Ms Vrablic and Mr Trump subjected Deutsche Bank to pressure from lawmakers and prosecutors for information during Mr Trump’s presidency.

Deutsche Bank told the Times in August that it was reviewing a real estate deal between Ms Vrablic and Mr Scalzi and a company part-owned by Jared Kushner, Mr Trump's son-in-law. Mr Kushner is also a client of Ms Vrablic.

The resignation of another longtime colleague of Ms Vrablic, Dominic Scalzi, has also been accepted by the bank, Mr Hunter said, without mentioning reasons for the resignations.

Ms Vrablic joined Deutsche Bank in 2006 after stints at other companies, including Bank of America Corp. Her other clients have included Herbert Simon, owner of the Indiana Pacers basketball team.

Reuters reported that Deutsche Bank was looking for ways to end its relationship with Mr Trump after the US elections, following negative publicity stemming from the ties.

The German bank, which first started lending to Trump in the late 1990s, has been dragged into congressional and other investigations looking into the real estate mogul-turned-politician's finances and alleged Russia connections.

As of November, Deutsche Bank has about $340 million in loans outstanding to the Trump Organisation, currently overseen by his two eldest sons.

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