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Former spy boss moves to Deutsche Bank

The Local · 6 Feb 2012, 10:48

Published: 06 Feb 2012 10:48 GMT+01:00

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A spokesman for the bank on Sunday confirmed a report in Der Spiegel news magazine that the former intelligence chief is now working as a freelance “global risk analyst” at the bank, and that this new job had been cleared by the Ronald Pofalla, chief of staff at the German chancellery.

The 65-year-old Uhrlau retired at the end of last year, when he reached the age limit for his office at the BND. He spent six years as president of the overseas intelligence agency and was also secret service coordinator for the German government.

One of Uhrlau’s more controversial acts in office was to buy the personal data of suspected tax evaders from people who had stolen the information from foreign banks. One of the high-profile victims of the initiative was Klaus Zumwinkel, former head of Germany’s postal service Deutsche Post.

Zumwinkel was fined €1 million and handed a two year suspended sentence in 2009.

Uhrlau is not the first high-ranking government insider who has moved to the Deutsche Bank. Former deputy finance minister Caio Koch-Weser became vice-chairman of the Deutsche Bank Group in 2006.

Story continues below…

The Local/bk

The Local (news@thelocal.de)

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Your comments about this article

16:34 February 6, 2012 by Navigator_B
If the BND has been doing it's job it would have been investigating Deutsche Bank and their competitors for helping Germans to evade taxes. After all, it investigated Swiss banks for doing just that, and it's little over a year since Deutsche Bank was fined more than 500 million dollars for doing the same thing for American tax dodgers. 

This means that Ernst Uhrlau must have a lot of inside information that will be useful to Deutsche Bank, unless he signed some sort of non-disclosure agreement with the BND before taking up his new job.

His new boss Joe Ackermann was a Swiss banker for nearly twenty years before moving to Germany and would probably be interested in whatever information that the former spy boss brings.
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