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Rosemary Vrablic

Rosemary Vrablic

American banker
Rosemary Vrablic
The basics

Quick Facts

Intro American banker
Is Financial professional Banker
From United States of America
Type Finance
Gender female
Education
Fordham University
Pace University
The details

Biography

Rosemary Vrablic (born 1960/1961) is an American banker, managing director and senior private banker of Deutsche Bank's US private wealth management (PWM) business. Her clients have included prominent wealthy individuals such as Donald Trump, Jared Kushner, Herbert Simon, and Stephen M. Ross.

Early life

Vrablic grew up in New York, the daughter of Joseph S. Vrablic (died 7 April 2005) and Bernice Vrablic. She attended The Ursuline School in New Rochelle, New York, and earned a bachelor's degree from Fordham University and an MBA from Pace University.

Career

Vrablic began her career as a bank teller, before moving into in private banking in 1989, working for Citigroup and then Bank of America, joining Deutsche Bank in 2006. 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.

Donald Trump

Vrablic has been Trump's personal banker. Trump began working with Deutsche Bank in 1998, securing a loan for renovations at 40 Wall Street and a $300 million loan for Trump World Tower. Trump borrowed $640 million from the bank for Trump International Hotel and Tower in Chicago, offering a $40 million personal guarantee. After the 2008 financial crisis Trump was unable to make loan payments, so he sued the lender for $3 billion in damages, alleging "Deutsche Bank is one of the banks primarily responsible for the economic dysfunction we are currently facing". Deutsche Bank responded by suing Trump to collect on the loan.

Vrablic's wealth management unit at Deutsche Bank then loaned Trump the money he needed to pay the bank's real estate division. She then gave him another loan on the Chicago project.

Vrablic was relatively unknown on Wall Street outside of the private banking sector until Trump mentioned her in early 2016, when he inaccurately described her as "the head of Deutsche Bank" and "the boss". Vrablic sat in the VIP section at Trump's swearing-in ceremony. After Trump's election, Deutsche Bank attempted to restructure about $300 million in loan debt originated primarily by Vrablic, in an attempt to avoid potential conflicts of interest.

Other clients

In addition to Trump, Vrablic's other clients include Stephen M. Ross and Jared Kushner. In 2017 Kushner and his mother had a personal unsecured line of credit from the bank for $5 to $25 million. In 2016, the bank loaned Kushner Companies $285 million to buy several floors of The Times Square Building from Africa Israel Investments. Kushner also issued a mortgage-backed security for the Puck Building through Deutsche Bank.

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. Her clients include Herbert Simon, the billionaire owner of the Indiana Pacers.

Personal life

Vrablic lives on Park Avenue, New York, in a duplex apartment formerly owned by Phillip R. Bennett, sentenced to 16 years in prison in 2008 for financial fraud.

The contents of this page are sourced from Wikipedia article on 17 Feb 2020. The contents are available under the CC BY-SA 4.0 license.
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Reference sources
References
https://heavy.com/news/2019/03/rosemary-vrablic/
https://commercialobserver.com/2013/02/deutsche-banks-rosemary-vrablic-and-private-bankings-link-to-cre-finance/
http://articles.sun-sentinel.com/2005-04-08/news/0504080276_1_david-memorial-chapel-palm-beach-opera-plantation/7
https://www.bloomberg.com/research/stocks/private/person.asp?personId=29092174&privcapId=5603044&previousCapId=5603044&previousTitle=Deutsche%20Bank%20Private%20Wealth%20Management%20USA
https://www.nytimes.com/2019/03/18/business/trump-deutsche-bank.html
https://www.theguardian.com/us-news/2017/feb/16/deutsche-bank-examined-trump-account-for-russia-links
https://www.nytimes.com/2017/07/19/business/big-german-bank-key-to-trumps-finances-faces-new-scrutiny.html
http://www.newyorker.com/magazine/2016/08/29/deutsche-banks-10-billion-scandal
https://www.washingtonpost.com/business/economy/deutsche-bank-agrees-to-pay-72-billion-to-settle-mortgage-abuse-case/2016/12/22/d3eac2b4-c6ca-11e6-bf4b-2c064d32a4bf_story.html
https://www.nytimes.com/2016/05/24/business/dealbook/donald-trump-relationship-bankers.html
https://www.nytimes.com/2019/03/18/business/deutsche-bank-donald-trump.html
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