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Qatari royals hike stake in Deutsche

Deutsche-Bank-dbThe royal family of Qatar has increased its stake in Deutsche Bank to close to 10%. The bank said Paramount Services Holdings and Supreme Universal Holdings, investment vehicles of Sheikh Hamad Bin Jassim Bin Jaber al-Thani, now each hold just under 5% of shares in the bank, up from just over 3%. This will make Qatar Deutsche Bank’s biggest shareholder ahead of Blackrock. Deutsche Bank also named lawyer Stefan Simon to succeed supervisory board member Georg Thoma at the suggestion of the Qatari shareholders. Thoma, at the time head of the supervisory board’s integrity committee, had resigned from his post in April, days after a dispute within the board surfaced in German media over what some members viewed as Thoma’s over-zealous response to scandals the bank has been embroiled in.

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