UPDATED - Deutsche Bank Hires Greenspan As Adviser in Investment Banking

Sunday, August 12, 2007

German banking colossus Deutsche Bank has signed up former Federal Reserve chairman Alan Greenspan as an adviser to its corporate and investment banking activities, specifically excluding asset management.
Greenspan told the German daily Frankfurter Allgemeine that he looked forward to work with a bank with which he had dealt with pleasure before. He said the deciding factor was that former Fed economist Peter Hooper now heads research at Deutsche Bank Securities.
Sources inside the bank said Greenspan's job obligations would be to attend 1 to 3 conferences per quarter and frequent consultations by phone as well as some analytical work. The value of his contract was not disclosed.
Greenspan said he accepted the job after finishing writing his memoirs which are scheduled to be published on September 17.
It is his second consultancy job. Earlier this year he became consultant to Pimco, a subsidiary of German financial giant Allianz.
UPDATE: The Frankfurter Allgemeine has moved the story into its subscribers section. The link above now leads to a "page not found" message.
UPDATE II: English language readers of this blog had an exclusive 18-hour lead on this story which was posted Sunday lunch pacific time. Deutsche Bank came out with its press release on Monday morning.
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