The powerful Deutsche Bank group closed ranks on Saturday, firmly denying any split between its Frankfurt headquarters and London fund management arm over the resignation of former star manager Nicola Horlick. The 35-year-old mother of five, dubbed Superwoman in Britain's media, appealed directly to Frankfurt over her suspension from Morgan Grenfell Asset Management, MGAM, saying she would get a fairer hearing in Germany than London.
But Markus Will, spokesman for Deutsche's London-based investment bank Deutsche Morgan Grenfell, told Reuters: There is not one millimetre of difference between Deutsche Bank and MGAM in this case. Horlick was suspended last Tuesday for allegedly trying to lure senior MGAM staff away with her to another bank in London. She resigned on Thursday night and it emerged that only one week earlier she had been promoted to managing director of MGAM. Horlick is claiming her suspension was a constructive dismissal and denies that she wanted to leave and take staff with her. She wants to be compensated or reinstated.
After failing on Friday morning to see either MGAM chief Robert Smith or Deutsche Morgan Grenfell head Michael Dobson, Horlick made a dramatic departure for Frankfurt, where she says she had a fair hearing from a personnel and a legal officer.
Will said Horlick disqualified herself from attending a scheduled meeting with Smith and a personnel officer in London at 0800 GMT on Friday by resigning on Thursday evening.
Deutsche Bank has said repeatedly that Horlick's talks in Frankfurt were only a courtesy gesture and any matters relating to her former employment had to go through MGAM in London.
Horlick nevertheless told Reuters on Saturday she wanted to to pursue talks with the Frankfurt-based officials she had met a day earlier. She conceded she would probably have to deal with officials in London as well, but added, I don't trust the Morgan Grenfell people and I thought I got a fair hearing in Germany.
