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Carsten Kengeter

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Person.png Carsten Kengeter  Rdf-entity.pngRdf-icon.png
( banker)
Carsten Kengeter.png
Born31 March 1967
 Heilbronn,  West Germany
Nationality German
Alma mater •  Middlesex University
•  Reutlingen University
•  London School of Economics
Criminal charge
insider trading
Goldman Sachs and UBS bankster who attended two Bilderbergs as CEO of the German Stock Exchange, around when it attempted to merge with the London Stock exchange.

Employment.png CEO link=https://en.wikipedia.org/wiki/Chief executive officer

In office
2010 - February 2013
EmployerUBS
Bank investigated for fraudulent manipulation. Later Bilderberger.

Employment.png Banker

In office
1997 - 2008
EmployerGoldman Sachs
Preceded byPhil Murphy

Carsten Kengeter became CEO of the German stock exchange Deutsche Börse in June, 2015. He attended two Bilderberg meetings around the time when Deutsche Börse attempted (but ultimately failed[1]) to merge with the London Stock Exchange.

Background

Kengeter was born March 31, 1967, in Heilbronn, West Germany,[2]. His father died in the Interflug airplane accident at Leipzig airport in 1975.

Carsten Kengeter is married and has three children.[3][4]

Education

He received a BA in business administration from the Middlesex University, London, a graduate degree in business administration from Reutlingen University.[2] and in in finance and accounting from the London School of Economics in 1992.[5]

Goldman Sachs

Kengeter started his professional career in 1992 in the credit derivatives trading business at Barclays de Zoete Wedd in London.[4] After five years there, he switched to derivatives marketing at Goldman Sachs in Frankfurt, where he soon rose to co-head European Fixed Income, Currencies and Commodities (FICC). He became a partner in 2002, and transferred to Hong Kong as co-head of the company's Asia (excluding Japan) securities division.[6][5][4][7]

UBS - Libor rigging

He moved to UBS AG in 2008 as co-head of FICC.[4] Credited with restructuring the Swiss bank's subprime mortgage portfolio,[4][8] he joined the executive board and added the responsibility of co-chief executive of UBS Investment Bank alongside Alex Wilmot-Sitwell in 2009. Kengeter became sole chairman and CEO in 2010 after Wilmost-Sitwell moved to Hong Kong to bolster the bank's Asian-Pacific operations.[9]

During Kengeter's tenure as chairman and CEO, UBS was investigated in connection with the fraudulent manipulation of Libor, a globally-used benchmark interest rate.[10][11] UBS trader Tom Hayes would later testify that Kengeter participated in meetings in Tokyo where plans to manipulated Libor were discussed, but authorities never accused Kengeter of wrongdoing.[5][12]

Kengeter's reputation was tarnished by the 2011 UBS "rogue" trader scandal,[11][3][13] which lost the bank $2.3 billion and created pressure for Kengeter to resign.[14] He gave up his 2011 bonus,[15] and in November 2012, stepped down from the bank's executive board and was reassigned to oversee the winding down of non-core businesses.[16] He resigned from UBS in February 2013.[11]

He became a visiting professor in the Department of Finance at his alma mater, the London School of Economics.[4]

Deutsche Börse - insider trading probe

He became CEO of the German stock exchange company Deutsche Börse in June 2015. He attended two Bilderberg meetings, 2015 and 2016, around the time when Deutsche Börse attempted (but ultimately failed[17]) to merge with the London Stock Exchange.

In October 2017, it was announced Kengeter would be stepping down as CEO amid an insider trading probe. The probe stemmed from shares Kengeter bought in December 2015, just months before formal merger talks with London Stock Exchange were announced.[2][18] In 2019 the Frankfurt prosecutor's office dropped the case against Kengeter in exchange for payments of almost 5 million euros ($5.68 million).[19]

Other positions

He was a board member of several international organisations such as the China Europe International Exchange AG and b-to-v Partners AG. Additionally he was chairman of the supervisory board of Circuitous Capital LLP, Director of FNZ Group Ltd. and member of the advisory board of the Financial Markets Group and the Systemic Risk Centre of the London School of Economics and Political Science, as well as a member of the Fixed Income Currencies Commodities Markets Standards Board.[2][18]

 

Events Participated in

EventStartEndLocation(s)Description
Bilderberg/20169 June 201612 June 2016Germany
Dresden		The 2016 Bilderberg meeting took place in Dresden, Germany.
Bilderberg/20171 June 20174 June 2017US
Virginia
Chantilly		The 65th Bilderberg Meeting
WEF/Annual Meeting/201126 January 201130 January 2011Switzerland
WEF		2229 guests in Davos, with the theme: "Shared Norms for the New Reality".
WEF/Annual Meeting/201225 January 201229 January 2012Switzerland
WEF		2113 guests in Davos
WEF/Annual Meeting/201620 January 201623 January 2016Switzerland
WEF		Attended by over 2500 people, both leaders and followers, who were explained how the Fourth Industrial Revolution would changed everything, including being a "revolution of values".
WEF/Annual Meeting/201717 January 201720 January 2017Switzerland
WEF		2952 known participants, including prominently Bill Gates. "Offers a platform for the most effective and engaged leaders to achieve common goals for greater societal leadership."
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References

  1. ↑ http://europa.eu/rapid/press-release_IP-17-789_en.htm
  2. ↑ Jump up to: a b c d https://web.archive.org/web/20170204214510/https://deutsche-boerse.com/dbg-de/investor-relations/corporate-governance/vorstand/cv-c-kengeter
  3. ↑ Jump up to: a b http://www.ft.com/cms/s/0/9e7c67a4-dafd-11e5-98fd-06d75973fe09.html#axzz4KD6fmQMj
  4. ↑ Jump up to: a b c d e f http://www.institutionalinvestor.com/article/3540611/asset-management-equities/deutsche-brses-carsten-kengeter-takes-center-stage-in-lse-tie-up.html
  5. ↑ Jump up to: a b c https://www.theguardian.com/business/2016/feb/26/carsten-kengeter-an-astute-climber-of-peaks-of-corporate-finance
  6. ↑ New kid Carsten Kengeter makes waves at UBS". EuroWeek. 2009-07-10 – via EBSCO's Business Source Complete.
  7. ↑ https://www.businessinsider.com/bankers-love-kung-fu-heres-why-2016-3
  8. ↑ https://www.ft.com/content/39f639d6-7548-11e2-b8ad-00144feabdc0
  9. ↑ https://www.wsj.com/articles/SB1000142405274870388240457552089003427159
  10. ↑ https://dealbook.nytimes.com/2011/03/15/ubs-says-it-is-being-investigated-over-possible-manipulation-of-the-libor/
  11. ↑ Jump up to: a b c https://dealbook.nytimes.com/2013/02/12/a-top-ubs-executive-to-depart/?_r=0
  12. ↑ https://www.wsj.com/articles/kengeter-was-listed-by-u-k-prosecutors-in-2013-as-possible-rate-rigging-co-conspirator-1457902349
  13. ↑ Burke, Ronald J.; Fox, Suzy (2016). Human Frailties: Wrong Choices on the Drive to Success Routledge. pp. 67–. ISBN 978-1-317-12007-0.
  14. ↑ https://www.nytimes.com/2011/09/19/business/global/ubs-says-trading-losses-closer-to-2-3-billion.html
  15. ↑ http://www.thetimes.co.uk/tto/business/industries/banking/article3311901.ece
  16. ↑ https://dealbook.nytimes.com/2012/11/05/ubs-unveils-new-team-in-investment-banking-unit/
  17. ↑ http://europa.eu/rapid/press-release_IP-17-789_en.htm
  18. ↑ Jump up to: a b https://www.reuters.com/article/us-deutsche-boerse-insidertrading/deutsche-boerse-ceo-to-step-down-amid-insider-trading-probe-idUSKBN1CV283
  19. ↑ https://www.reuters.com/article/business/prosecutor-drops-insider-trading-case-against-former-deutsche-boerse-ceo-idUSKCN1OW1CL/
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