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Deutsche Bank saved from paying client US$49 million in damages

Deutsche Bank’s Asset and Wealth Management (DeAWM) unit has been spared from paying a client as much as US$49 million in damages because of a recent ruling by the Singapore Court of Appeals. Dr Chang Tse Wen, a multi-millionaire and client of the bank, suffered large losses on an account he had set up with the bank in 2007 because…

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