Trump’s longtime banker resigns from Deutsche Bank

President’s family firm received $2B in loans from the German lender over the years

National /
Dec.December 22, 2020 05:35 PM
Rosemary Vrablic with clients Jared Kushner and President Donald Trump (Getty, iStock)

Rosemary Vrablic with clients Jared Kushner and President Donald Trump (Getty, iStock)

President Donald Trump’s personal banker at Deutsche Bank has resigned.

Rosemary Vrablic, who worked in the private banking division, will step down at the end of the year, along with her division colleague Dominic Scalzi, the New York Times reported.

Deutsche Bank began lending to Trump in the 1990s, but Vrablic is credited for growing that relationship when Trump’s son-in-law, Jared Kushner, connected the two in 2011. That created tension within the bank, particularly because Trump had defaulted on a loan in 2008, according to the publication.

The relationship with Trump also prompted scrutiny from lawmakers and prosecutors seeking information on the president’s business practices. The lender signaled in November that it would sever ties with the president. A bank official at the time called the inquiries into Trump’s business “serious collateral damage.”

In total, Deutsche Bank has lent the Trump Organization more than $2 billion and still has about $340 million in outstanding debt with the firm.

In August, Deutsche Bank said it was conducting an internal review of a Manhattan apartment purchase made by Vrablic and Scalzi from a company partially owned by Kushner. To avoid conflicts of interest, banks typically restrict employees from doing personal business with clients.

[Bloomberg News] — Georgia Kromrei


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