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Deutsche Bank to ISS: ‘We have improved our risk system’

© Reuters. FILE PHOTO: Deutsche Bank's annual meeting in Frankfurt© Reuters. FILE PHOTO: Deutsche Bank's annual meeting in Frankfurt

BERLIN (Reuters) - Deutsche Bank (DE:) said recommendations made by U.S. proxy advisor Institutional Shareholder Services (ISS) did not reflect the current situation of the bank and its control environment.

"While we acknowledge that there is still work ahead of us, we have significantly improved our risk and control systems in the last three years and we will continue to do so", the lender said in a statement.

The Financial Times on Wednesday reported that ISS advised Deutsche Bank shareholders to vote against discharging the board at the upcoming annual general meeting on May 23, citing its involvement in money laundering investigations.

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