Deutsche Bank A.G. has filed a lawsuit in Hong Kong against a former Chinese executive for $6.3 million.
In a complaint filed with Hong Kong’s Court of First Instance, the German bank alleged that former Asia Pacific head of global banking and China chairman Zhang Hongli breached fiduciary duty when he transferred $4 million into an account at China Merchants Bank in Shenzhen. The filing did not give the date of the transfer. Deutsche Bank is seeking to recover the full transfer amount, plus interest of $2.3 million.
