Deutsche Bank Settles Russian-Hiring Claims with Ex-Executive

Deutsche Bank AG settled a case against former executive Nizar Al-Bassam, who was suing the lender to reclaim his bonuses following a probe into hiring practices in Russia and the U.K.

Al-Bassam, a former head of corporate and debt capital market finance for central and eastern Europe, the Middle East and Africa, had alleged that the bank withheld his deferred compensation of about 4 million euros ($4.7 million) after investigating his involvement in hiring practices in Russia.

“Al-Bassam and Deutsche Bank have agreed that the proceedings should be discontinued following the conclusion of the bank’s internal processes, which concluded he ...