Nizar Al-Bassam Sues Deutsche Bank Over $4.7 Million Bonus

A former Deutsche Bank AG executive, Nizar Al-Bassam, is suing the German lender to reclaim bonuses totaling about 4 million euros ($4.7 million) following a probe into hiring practices in Russia and the U.K. Al-Bassam, a former head of corporate and debt capital market finance for central and eastern Europe, the Middle East and Africa, said he believed the bank withheld the deferred compensation after investigating his involvement in hiring practices in Russia. “The allegation of misconduct for which the suspension was applied has long-since been abandoned,” Al-Bassam, said in a court filing dated April 26, and released Monday.