Deutsche Bank’s traders have performed strongly recently, helping the firm’s share price to recover and even prompting speculation that it could take over Credit Suisse if the long-awaited European bank merger dance ever gets under way.
News that a position taken by Deutsche Bank distressed debt trader Mark Spehn five years ago could now result in a $1 billion payoff has contributed to the feeling that the bank has got its mojo back.
Deutsche Bank declined to comment on a Bloomberg report that a position of less than $100 million that Spehn took in Israeli shipping firm ZIM’s debt and equity is worth around $1 billion now that ZIM has listed against a backdrop of sharply higher freight rates.
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