President Trump’s longtime banker at Deutsche Bank, who arranged for the German lender to make hundreds of millions of dollars of loans to his company, is stepping down from the bank.
Rosemary Vrablic, a managing director and senior banker in Deutsche Bank’s wealth management division, recently handed in her resignation, which the bank accepted, according to a bank spokesman, Daniel Hunter.
“I’ve chosen to resign my position with the bank effective Dec. 31 2020 and am looking forward to my retirement,” Ms. Vrablic, 60, said in a statement
Rosemary Vrablic serves as a Managing Director and Senior Private Banker at Deutsche Bank Private Wealth Management USA. Previously, Ms. Vrablic was employed with Bank of America Private Bank. She holds BA from Fordham University and MBA from Pace University.
Deutsche Bank in August 2020 opened an internal review into a 2013 real estate transaction between Ms. Vrablic and a company owned in part by Jared Kushner, the son-in-law of Mr. Trump and a client of Ms. Vrablic’s. Dominic Scalzi, a longtime colleague of Ms. Vrablic’s who played a role in that transaction, will also leave the bank.
Ms. Vrablic and Mr. Scalzi joined Deutsche Bank in 2006 from Bank of America. Ms. Vrablic quickly made a name for herself as one of her division’s leading rainmakers. In 2011, she landed a prominent new client: Mr. Trump, who for decades had been mostly off limits to the mainstream banking world because of his tendency to default on loans. With her bosses’ approval, Ms. Vrablic agreed to a series of loans, totaling well over $300 million, for his newly acquired Doral golf resort in Florida, for his troubled Chicago skyscraper and for the transformation of the Old Post Office building in Washington into a luxury hotel.
The relationship between Mr. Trump and the German bank is the subject of congressional, civil and criminal investigations. The Manhattan district attorney, Cyrus R. Vance Jr., has been investigating whether Mr. Trump committed financial crimes as he sought to get loans from Deutsche Bank.
Deutsche Bank’s internal review has focused, at least in part, on a Park Avenue apartment that Ms. Vrablic, Mr. Scalzi and another Deutsche Bank colleague purchased for about $1.5 million from a company called Bergel 715 Associates in June 2013. Mr. Kushner held an ownership stake in that company at the time.