The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Macaskill on markets: Deutsche Bank veterans at SoftBank give Germany Inc another kick with Wirecard trade

A complex investment in Wirecard by Deutsche Bank veterans now working at SoftBank has effectively compounded the eventual embarrassment for Germany Inc from the failure of the online payments firm.

Kung Shoe Kick_Maca_780

An unusual investment in stricken German digital payments firm Wirecard that was structured last year by executives at SoftBank’s Vision Fund helped the company to fend off doubts about its viability for over 12 months, until an apparent €1.9 billion accounting fraud emerged in June.

Wirecard has since lost most of a listed stock value that was once over €20 billion – a failure that was described by Felix Hufeld, head of German financial regulator BaFin, as “a complete disaster”.

Last year’s €900 million structured equity trade was put together by SoftBank’s Akshay Naheta, a former Deutsche Bank proprietary dealer, along with Rajeev Misra, Naheta’s one-time superior at Deutsche and current head of the $100 billion SoftBank Vision Fund.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree