Presented without comment (No bagholder jokes please).
Important update to the pictorial guide of Deutsche Bank's risk culture, via Financial News (our emphasis):
On the morning that Deutsche Bank began making thousands of job cuts as part of a sweeping overhaul at the ailing German lender, some managing directors at the company were being fitted for suits costing at least £1,500.
The news has emerged after two tailors were photographed leaving Deutsche’s London headquarters on Monday holding suit bags. They were wrongly identified as employees departing the bank with their belongings after being fired. The photo was widely disseminated on Twitter and was used by the Guardian, Financial Times and Reuters.
The two men were in fact Ian Fielding-Calcutt and Alex Riley, who work for Fielding & Nicholson Tailoring. They were there to fit suits for a group of senior staff at the bank unaffected by the job cuts.
Being fitted for a new suit on the day many of your colleagues and/or underlings are being fired isn't just indicative of a risk culture at Deutsche Bank. It's indicative of something else entirely.
No info on whether the tailors were being paid in Bitcoins bags.
Emperor's new clothes jokes now accepted.