Deutsche Bank is cutting costs. The German bank wants to cut €3.8bn from its cost base by 2018. To this end, CEO John Cryan has been questioning the need to hold meetings in sumptuous hotels, doing away with the corporate grape juice, and cancelling Deutsche’s NetJets contract. One elite group, however, appears immune to this austerity: Sam Wisnia‘s select few.
Deutsche insiders say Wisnia recently flew “a group of selected people down to an offsite in Washington,” on his a private jet he rented himself. The move is said to have raised eyebrows at Deutsche, given that Cryan himself is now flying nothing but commercial.
“It’s like Wisnia’s trying to buy loyalty,” complained someone close to the situation, who wasn’t invited along.
Deutsche Bank said the jet was paid for privately, and not by the bank.
Wisnia spent 14 years working for Goldman Sachs, latterly as co-head of Global Strats and structuring, and is thought to have amassed a fairly substantial fortune in the process. He’s said to be hiring for his strategy analytics group at Deutsche Bank. If you like flying NetJets, you might want to apply.