Monday, June 25, 2012

Another E-mail Uproar! Top U.S. Firm’s German head offers resignation

According to Reuters the head of Morgan Stanley's German unit has offered to step down following an uproar over emails he reportedly exchanged with a regional politician, and the bank has not yet decided whether to accept his resignation, according to two people familiar with the matter.

The departure of Dirk Notheis would be a blow for the U.S. investment bank, which had come to rely heavily on him to deliver lucrative advisory roles in mergers and acquisitions, known as mandates.

The 44-year-old Notheis is one of Germany's best-connected dealmakers with close ties to Berlin, a fact that rivals say has helped Morgan Stanley snare mandates involving companies that are partially state-owned….

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