Deutsche Bank is prepping its workers for a new onslaught of bad press — by offering them corporate talking points on everything from President Trump to Nazi financing.
In a Tuesday memo to its US-based employees, Deutsche US head of communications Daniel Hunter warned that the $18.5 billion German lender is bracing for a trio of upcoming books that will air the bank’s dirty laundry this year.
“Some of the books may go beyond the facts and stray into extensive conjecture and speculation,” the memo warns. “In preparation for questions from customers, clients or other stakeholders about these books, please use the following talking points.”
If asked, for example, about Deutsche Bank’s loans to Trump, which the Democrats have made central to their impeachment case, employees are advised to note that “federal courts have publicly confirmed that Deutsche Bank does not possess President Trump’s tax returns that were requested by Congress.”
The memo doesn’t specifically name the three books, but a source close to the situation said they are “Dark Towers” by David Enrich, slated for release Feb. 18, “Deutsche Bank: The Global Hausbank, 1870 – 2020” by Werner Plumpe, Alexander Nützenadel and Catherine Schenk; and “Discussion Materials” by Bill Keenan. The latter two will be released next month.
If asked about the record-breaking, $7.2 billion fine that Deutsche paid in 2017 to the Department of Justice for its role in the financial crisis of 2008, Hunter refers bankers to Deutsche’s public statement at the time: “Although it is good that we can bring this matter to a close, the price we are paying is high. Despite this financial impact, we are pleased to have resolved this matter.”
The list of nine talking points is historically thorough, going so far as to prepare for possible questions about Deutsche’s role funding Germany’s Nazi government.
“As a 150-year-old institution, we strongly believe that we must learn from history and avoid repeating the mistakes of the past,” the memo said. “We have openly acknowledged the bank’s role during this dark chapter of history – a reality that will always be a source of deep regret for our institution.”