led to several resignations within the firm including the chief executive Christopher Reeves. While this was a severe reputational blow, the impact proved to be relatively short-term. Deutsche Bank era In 1990, Morgan Grenfell was acquired in an agreed deal by 4.9% shareholder Deutsche Bank who had ambitious expansion plans but no significant investment banking operation in London outside bond trading. The deal valued Morgan Grenfell at $1.48 billion, Deutsche stating that the acquisition recognised "...the pre-eminence of the London marketplace within Europe in the fields of corporate finance and asset management." Morgan Grenfell had been seeking a friendly suitor after an unwanted approach from 14.9% shareholder Compagnie Financiere de Suez (who proposed a merger with their banking subsidiary Banque Indosuez) and agreed terms with Deutsche after ending talks with Barclays Bank. Following the acquisition the firm continued to trade as an independent entity but five years later as Deutsche started to exert more explicit control following the discovery of irregularities in the asset management business resulting in a £2 million fine and board resignations, the name became Deutsche Morgan Grenfell. On 4 June 1999 the use of the Morgan Grenfell name was discontinued by Deutsche Bank when Deutsche Morgan Grenfell was merged with Bankers Trust to form Deutsche Asset Management (DAM) with Robert Smith as CEO. Notable current and former employees Business Lord Bicester, former Chairman of Yule Catto & Co. Francis Rodd, 2nd Baron Rennell, former non-executive director of British Overseas Airways Corporation Lord Catto, former Governor of the Bank of England John Craven, Non-Executive Director, Reuters Group Chris Grigg, Chief Executive, British Land Nicola Horlick, founder of Bramdean Asset Management Professor Michael Mainelli, Co-founder of the Commercial think-tank Z/Yen Group and Emeritus Gresham Professor of Commerce at Gresham College James Murren, President, Chairman of the Board and Chief Executive Officer, MGM Resorts International Christopher Reginald Reeves, Group Chief Executive, Morgan Grenfell; Chairman Merrill Lynch Europe, Middle East & Africa Ian Wace, founder of Marshall Wace Asset Management Bob Wigley, former Chairman, Merrill Lynch Europe, Middle East & Africa Politics Quentin Davies, Minister for Defence Equipment, Support and Technology Tan Jee Say, Singaporean politician, Regional Director ACCA Asia-Pacific Edward Grenfell, 1st Baron St Just, also director of the Bank of England and former Member of Parliament for the City of London Tremayne Rodd, 3rd Baron Rennell former member of the House of Lords for the Conservative Party (UK)