Rosemary Vrablic

Rosemary Vrablic (born 1960/1961) is an American banker who worked as the managing director and senior private banker of Deutsche Bank's U.S. private wealth management (PWM) business. In 2013, Vrablic was managing assets valued at $5.5 billion on behalf of about 50 clients, 40% of whom had made their money in real estate.[3] Her ultra-high-net-worth clients include Herbert Simon, the billionaire owner of the Indiana Pacers, and Jared Kushner.[3] According to the New York times and the Financial Times, she was "Donald Trump’s longtime private banker" before her resignation from Deutsche Bank in December 2020.[4][5] Her resignation came while she was under an internal review by Deutsche Bank for a personal real estate transaction she conducted with Jared Kushner.[4][6]

Rosemary Teresa Vrablic[1]
Born1960/1961 (age 59–60)[2]
EducationFordham University (BS)
Pace University (MBA)
Occupationprivate banker
TitleManaging director and senior private banker, Deutsche Bank U.S.

Early life

Vrablic attended The Ursuline School in New Rochelle, New York,[2] and earned a bachelor's degree from Fordham University and an MBA from Pace University.[7]

Career

Vrablic began her career as a bank teller, before moving into in private banking in 1989, working for Citigroup and then Bank of America, joining Deutsche Bank in 2006.[8][3][7][9] She got her start in private banking in 1989 when she was still a bank teller, living with her parents in Scarsdale, New York, after a chance two-hour train conversation with Howard Ross, the then-chief credit officer of Bank Leumi.[2] On joining Deutsche Bank in 2006, she was widely recognized as one of the top private bankers to the US ultra high-net-worth community.[10]

In August 2020, Deutsche Bank announced an internal review into a personal real estate transaction involving a client, Jared Kushner; the bank announced that the review would be completed by the end of 2020.[6] Vrablic announced her retirement from Deutsche Bank on December 22, 2020, at the age of 60. She said in a statement, "I’ve chosen to resign my position with the bank effective Dec. 31 and am looking forward to my retirement."[4]

Donald Trump

According to the New York Times and the Financial Times, Vrablic was the "private banker" to Donald Trump.[4][5] Prior to her arrival at Deutsche Bank, Trump had been unable to secure loans from Deutsche Bank as a result of having defaulted in 2008 on a $640 million from the bank for Trump International Hotel and Tower in Chicago.[11] Under Vrablic's direction, the wealth management unit at Deutsche Bank ultimately loaned Trump more than $330 million dollars.[11]

Jared Kushner

In 2017, Jared Kushner and his mother had a personal unsecured line of credit from the bank for $5 to $25 million.[11] In 2016, the bank loaned Kushner Companies $285 million to buy several floors of The Times Square Building from Africa Israel Investments.[11] Kushner also issued a mortgage-backed security for the Puck Building through Deutsche Bank.[11] In June 2013, a company associated with Kushner sold an apartment on Park Avenue to Ms. Vrablic and another Deutsche Bank colleague for approximately $1.5 million.[4][6]

Other Clients

In addition to Trump and Kushner, Vrablic's other clients included Stephen M. Ross and Herbert Simon.[11][8]

References
  1. https://sec.report/AdviserInfo/Individuals/4359776 SEC registration
  2. Farrell, Paul (19 March 2019). "Rosemary Vrablic: 5 Fast Facts You Need to Know". Heavy.com. Retrieved 24 March 2019.
  3. Gaines, Carl (6 February 2013). "Deutsche Bank's Rosemary Vrablic and Private Banking's Link to CRE Finance". Commercial Observer. Retrieved 16 February 2017.
  4. Enrich, David (2020-12-22). "Trump's Longtime Banker at Deutsche Bank Resigns". The New York Times. ISSN 0362-4331. Retrieved 2020-12-24.
  5. "Subscribe to read | Financial Times". www.ft.com. Retrieved 2021-01-23. Cite uses generic title (help)
  6. Drucker, Jesse; Enrich, David (2020-08-02). "Deutsche Bank Opens Review Into Personal Banker to Trump and Kushner". The New York Times. ISSN 0362-4331. Retrieved 2021-01-23.
  7. "Executive Profile: Rosemary Vrablic". Bloomberg. Retrieved 16 February 2017.
  8. "A Mar-a-Lago Weekend and an Act of God: Trump's History With Deutsche Bank". The New York Times. 2019-03-18. Retrieved 2019-03-19.
  9. Harding, Luke; Kirchgaessner, Stephanie (16 February 2017). "Deutsche Bank examined Donald Trump's account for Russia links". The Guardian. Retrieved 16 February 2017.
  10. "Deutsche Bank Further Expands US Private Wealth Management Business; Private Bankers Rosemary Vrablic and Dominic Scalzi Join as Managing Directors". www.businesswire.com. 2006-09-14. Retrieved 2021-01-14.
  11. Ben Protess; Jessica Silver-Greenerg; Jesse Drucker (20 July 2017). "Big German Bank, Key to Trump's Finances, Faces New Scrutiny". The New York Times. p. A1. Retrieved 21 July 2017.
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