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Thomas M. Bowers was the direct supervisor of Deutsche Managing Director Rosemary T. Vrablic, who has been named as the private banker involved in President Trump's business dealings with the bank.
The investors claim that E*Trade promised to disclose the rate but didn’t disclose that certain securities were being designated hard to borrow until last month, and didn’t disclose what the estimated interest rate would be before trades were placed.
Any challenge would focus on the RIA custody business, analysts said, even as CEO Walt Bettinger downplays their market position. 'Folks are running away a little bit with these assumptions around percentage of RIA custody.'