Rosemary Vrablic

Last updated
Rosemary Teresa Vrablic [1]
Born1960/1961(age 60–61) [2]
NationalityAmerican
Education Fordham University (BS)
Pace University (MBA)
OccupationBanker
TitleFormer managing director and senior private banker, Deutsche Bank U.S.

Rosemary Teresa 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 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]

Contents

Early life

Vrablic grew up in New York, [3] the daughter of Joseph S. Vrablic (died 2005) and Bernice Vrablic. [6] She 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 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]

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] [12]

Other clients Vrablic's other clients included Stephen M. Ross and Herbert Simon. [11] [8]

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References

  1. https://sec.report/AdviserInfo/Individuals/4359776 SEC registration
  2. 1 2 3 Farrell, Paul (19 March 2019). "Rosemary Vrablic: 5 Fast Facts You Need to Know". Heavy.com. Retrieved 24 March 2019.
  3. 1 2 3 4 Gaines, Carl (6 February 2013). "Deutsche Bank's Rosemary Vrablic and Private Banking's Link to CRE Finance". Commercial Observer. Retrieved 16 February 2017.
  4. 1 2 3 4 Enrich, David (2020-12-22). "Trump's Longtime Banker at Deutsche Bank Resigns". The New York Times. ISSN   0362-4331 . Retrieved 2020-12-24.
  5. 1 2 "Subscribe to read | Financial Times". www.ft.com. Retrieved 2021-01-23.{{cite web}}: Cite uses generic title (help)
  6. "Paid Obituaries". Archived from the original on 2017-02-17. Retrieved 2017-02-16.
  7. 1 2 "Executive Profile: Rosemary Vrablic". Bloomberg. Retrieved 16 February 2017.
  8. 1 2 "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.
  9. Harding, Luke; Kirchgaessner, Stephanie (16 February 2017). "Deutsche Bank examined Donald Trump's account for Russia links". The Guardian. Retrieved 16 February 2017.
  10. "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.
  11. 1 2 3 4 5 6 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.
  12. 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.