Ex-bank exec sued over US$4m transfer
Print Edition
DEUTSCHE Bank is suing a former top executive of its China operations for US$3.9 million, according to reports, accusing him of transferring the sum to an account held by another company at a Chinese bank.
Lee Zhang was previously chairman of Deutsche Bank China and head of global banking in the Asia-Pacific region.
In papers filed with Hong Kong’s high court on Friday and seen by Dow Jones Newswires, the bank alleges Zhang transferred US$3.9 million to an account under Harperskille Ltd, held at China Merchants Bank Shenzhen branch.
The German bank claims Zhang breached his professional duty and is seeking the full amount from the banker, plus US$2.3 million in interest.
Zhang joined Deutsche Bank in 2001 and was previously the Goldman Sachs group’s chief representative in Beijing. He joined the Industrial and Commercial Bank of China in 2010.
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