Deutsche Bank reached a settlement with former banker Dario Schiraldi for an undisclosed sum. Schiraldi previously sought €152 million ($176.62 million) in damages regarding 2008 business dealings with Italy’s Monte dei Paschi.
The resolution occurred days before a trial that could have required the involvement of CEO Christian Sewing. This litigation was one of six cases brought by former employees alleging reputational damage.
The bank stated the settlement will have only a small financial impact on its third-quarter earnings. The confidential agreement resolves all claims against the bank and its personnel.