Rosemary Vrablic
Rosemary Teresa Vrablic[1] | |
|---|---|
| Born | 1960 or 1961 (age 63–64)[2] |
| Education | Fordham University (BS) Pace University (MBA) |
| Occupation | private banker |
| Title | Managing director and senior private banker, Deutsche Bank U.S. |
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]
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]
Notable Clients
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
- ^ https://sec.report/AdviserInfo/Individuals/4359776 SEC registration
- ^ a b c Farrell, Paul (19 March 2019). "Rosemary Vrablic: 5 Fast Facts You Need to Know". Heavy.com. Retrieved 24 March 2019.
- ^ a b c Gaines, Carl (6 February 2013). "Deutsche Bank's Rosemary Vrablic and Private Banking's Link to CRE Finance". Commercial Observer. Retrieved 16 February 2017.
- ^ a b c d e Enrich, David (2020-12-22). "Trump's Longtime Banker at Deutsche Bank Resigns". The New York Times. ISSN 0362-4331. Retrieved 2020-12-24.
- ^ a b "Subscribe to read | Financial Times". www.ft.com. Retrieved 2021-01-23.
{{cite web}}: Cite uses generic title (help) - ^ a b c 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.
- ^ a b "Executive Profile: Rosemary Vrablic". Bloomberg. Retrieved 16 February 2017.
- ^ a b "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.
- ^ Harding, Luke; Kirchgaessner, Stephanie (16 February 2017). "Deutsche Bank examined Donald Trump's account for Russia links". The Guardian. Retrieved 16 February 2017.
- ^ "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.
- ^ a b c d e f 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.