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Perella Weinberg puts employee in insider trading probe on leave -sources

2023-01-27T13:45:04Z

The advisory firm Perella Weinberg Partners (PWP.O) has placed an employee who is being investigated as part of an insider trading probe in Germany on leave, two people with knowledge of the matter told Reuters on Friday.

On Thursday, German authorities said they were investigating five suspects, including one who was in custody, for allegedly profiting on upcoming M&A transactions between 2017 and 2021.

Perella said in a statement: “The firm is assisting in an investigation by German law enforcement authorities. The firm is not the subject of the investigation, and there is no suggestion of wrongdoing on the part of the firm.”

The Perella employee is based in London, the two people said, speaking on condition of anonymity.

A spokesperson for Frankfurt’s prosecutors declined to comment. Manager Magazin first reported the development.