Sources: Head of Morgan Stanley’s German Unit Offers Resignation
The head for Germany and Austria and chairman of the board at Morgan Stanley Bank AG, has offered to step down following an uproar over emails he reportedly exchanged with a regional politician, reported Reuters Sunday, citing people familiar with the matter.
However, according to the report, the bank has not yet decided whether to accept his resignation, according to the people.
Dirk Notheis, 44, is one of Germany’s best-connected dealmakers with close ties to Berlin.
According to Reuters, there has been a public outcry over emails published in the German newspapers Frankfurter Allgemeine Zeitung and Handelsblatt in the past week. The emails were not independently verified by Reuters. Notheis reportedly gave strategic advice on moves by politicians in a way that has resulted in the outcry.
In the emails, he appears to ask to keep German Chancellor Angela Merkel – whom he refers to as Mutti, (German for mom); out of the loop until just before a controversial deal to nationalize an energy utility was completed in 2010.
Morgan Stanley declined to comment.
Notheis is a member of the Christian Democratic Union (CDU), the same political party as Angela Merkel.
Notheis was named CEO in February 2009.