Finance
Former Deutsche bank employees seek $800 million in damages in monte dei paschi case
Published by Global Banking & Finance Review®
Posted on March 12, 2026
2 min readLast updated: March 12, 2026
Quick Summary
Four former Deutsche Bank employees are pursuing over £600 million (approx $800 million) in damages over the Monte dei Paschi case, with the bank dismissing the claims as baseless in its annual report and promising a vigorous defense.
Ex-employees sue Deutsche Bank for $800 million over Monte dei Paschi case
Details and Background of the Lawsuit
By Tom Sims and Matthias Inverardi
Overview of the Claims
FRANKFURT, March 12 (Reuters) - Deutsche Bank said on Thursday that four former employees are seeking a total of more than 600 million pounds ($800 million) over alleged damage to their reputations due to a case involving business with Italy's Monte dei Paschi.
Germany's largest bank made the disclosure of the amount being claimed in its annual report and said that it "will defend itself against them robustly, including disputing the inflated, unrealistic alleged losses claimed".
Origins of the Monte dei Paschi Case
The case stems from deals Deutsche Bank did with Italian bank Monte dei Paschi (MPS) in 2008. These initially resulted in convictions for the bankers and Deutsche Bank in Italy for allegedly colluding with MPS to hide losses.
The convictions were overturned in 2022, but the bankers are now suing Deutsche Bank, alleging damage to their reputations for taking blame for the trades.
Legal Proceedings and Damages Sought
The London lawsuits are already known about, but the damages being sought by the plaintiffs, who allege that Deutsche Bank harmed their careers, has not previously been made public.
The sum comes on top of a 152 million euro ($175.58 million) claim by a fifth banker in a Frankfurt court that was filed in 2024 and is slated to be heard later this year. A sixth banker has settled for an undisclosed sum.
Financial Impact and Bank Performance
The claims for damages in 2025 coincided with Deutsche Bank's most profitable year since 2007, resulting in a lift in pay for its CEO Christian Sewing.
His compensation was an estimated 10.5 million euros ($12.12 million) for 2025, up from 9.75 million euros for 2024, the bank also disclosed in its annual report.
Deutsche Bank expects its revenue to rise to around 33 billion euros this year, up from 32.1 billion in 2025.
Additional Information
($1 = 0.7473 pounds)
(Reporting by Tom Sims and Matthias Inverardi, editing by Thomas Seythal, Miranda Murray and Friederike Heine; Editing by Alexander Smith)
Key Takeaways
- •The claims stem from a criminal case where staff were convicted in 2019 but ultimately acquitted in appeals and by Italy’s supreme court in 2023 (claimsjournal.com).
- •One former employee filed for roughly €152 million in damages in German courts in Q2 2024; five others filed similar claims in English courts on 30 September 2025 (deutsche-bank.it).
- •Deutsche Bank regards all these claims as entirely without merit and is contesting them vigorously, disputing what it calls inflated, unrealistic losses; the bank has not disclosed any provisions, stating such disclosure could prejudice outcomes (deutsche-bank.it).
References
Frequently Asked Questions about Former Deutsche Bank employees seek $800 million in damages in Monte dei Paschi case
1Who is seeking damages in the Monte dei Paschi case?
Four former Deutsche Bank employees are seeking more than $800 million in damages.
2Which banks are involved in the legal case mentioned?
The legal case involves Deutsche Bank and Italian bank Monte dei Paschi.
3Where have the damages claims been filed?
The damages claims have been filed in English courts.
4How much are the former employees seeking in damages?
They are seeking more than 600 million pounds, or about $800 million.
5What is Deutsche Bank's response to the claims?
Deutsche Bank stated the claims are 'without merit' in its annual report.
