| NEW YORK
NEW YORK Dec 18 A former managing director at
Deutsche Bank sued the firm for age discrimination on Tuesday.
Robert Jeffe, 62, former chairman of the corporate advisory
group, said clients were taken from him and given to younger
managing directors, according to the lawsuit filed in New York
state Supreme Court in Manhattan.
Jeffe also claims he was grossly underpaid and missed out on
millions of dollars in bonuses in 2009 before fired last year.
Deutsche Bank "wanted to reap the benefits of Jeffe's
successful and long-standing relationships and shift them to the
younger managing directors, at Jeffe's expense," the lawsuit
"We believe this suit has no merit," Duncan King, a
spokesman for Deutsche Bank, said.
Jeffe was recruited in 2004, according to the lawsuit. He
received a $2 million signing bonus and guaranteed compensation
of $3 million for each of 2005 and 2006. In 2007, he was paid
In 2009, despite helping land work on the $50 billion merger
of Petro-Canada and Suncor Energy Inc, his compensation was
$1.25 million, the lawsuit says. Younger managing directors got
$2 million or more for that year, plus special awards of another
In 2010, he was denied year-end compensation, the complaint
Jeffe is seeking monetary damages and other relief.
The case is Robert Jeffe v Deutsche Bank Securities Inc.,
New York state Supreme Court, New York County 654408/2012.