Rosemary Vrablic in 2013.
Photographer: Michael Nagle / Redux
Photographer: Michael Nagle / Redux
Rosemary Vrablic, Donald Trump’s longtime banker, is gone Deutsche Bank AG found in December after an internal investigation that it was engaged in ‘unknown activities’ related to real estate.
According to the bank, Vrablic was allowed to resign due to the investigation, the bank announced it about the regulatory authority of the financial industry. BrokerCheck service. The activities include “the purchase of the property of a client-managed entity and the establishment of an unapproved outside entity to hold the investment,” the bank said in the disclosure.
Vrablic’s colleague Dominic Scalzi also resigned in December for the same reason, according to a separate Finra announcement.
A representative of Deutsche Bank, based in Frankfurt, declined to comment on the information he shared with Finra. The New York Times reported earlier Wednesday on the reason for Vrablic’s departure.
The firm began reviewing a real estate deal between Vrablic and Scalzi in August and a company owned in part by Trump’s son-in-law Jared Kushner.
Vrablic, who worked in the private banking division, helped manage Trump’s relationship with the bank, as he lent hundreds of millions of dollars to Trump’s company over several years. The relationship has put Deutsche Bank under pressure from lawmakers and prosecutors for information during Trump’s presidency.
Cut the tie
Deutsche Bank cut ties with Trump in January following the deadly riots at the U.S. Capitol, but the former president still owes the bank more than $ 300 million. The total includes $ 125 million for Trump’s Doral golf course in Miami, which is payable in 2023, and about $ 170 million for the Trump International Hotel in Washington, which is payable in 2024.
Vrablic, who grew up in the Bronx and then Scarsdale, New York, studied at Fordham University in 1982 with an economics degree during the recession. According to David Enrich’s “Dark Towers”, the only job she could get was a bank teller outlining the ties between Trump and the German moneylender.
A chance meeting in a train with a Bank Leumi manager secured Vrablic a position in the credit training group of the Israeli bank. A few years later, she ended up at Citicorp’s private baking division, where she earned a reputation offering large loans to wealthy New York real estate families.
Deutsche Bank recruited her in 2006 to strengthen its private banking division and, according to Enrich’s book, provide a guaranteed value of $ 5 million a year.
One of her clients was Jared Kushner, who after his marriage to Ivanka brought Trump and Vrablic together to provide financing, even though, according to the book, Trump was fighting with Deutsche Bank over another loan.
This made Vrablic a controversial figure in the bank. According to the book, Trump tapped Deutsche Bank in 2012 to fund its acquisition of Doral against the objections of the investor’s investment bankers.
– With assistance by Max Abelson
(Updates with the size of Trump’s loans in the seventh paragraph, Vrablic’s background begins in the eighth.)