In recent weeks, Bernd Villhauer, Senior Advisor for Finance at the Global Ethic Institute, has been frequently sought out by national and regional media as an expert on business ethics. The focus has been on current issues regarding the responsibility of financial institutions, the relationship between ethics and investment in the arms industry, and his newly published book on “Wealth.”
Following new revelations from the so-called “Epstein Files,” public debate has reignited over the fact that Deutsche Bank maintained business relations with Jeffrey Epstein even after his 2019 conviction. According to reports, Epstein held approximately 40 accounts with the bank and managed a significant portion of his assets there.
The revelations had immediate economic consequences: According to Wall Street Online, Deutsche Bank’s stock price fell by 5.49 percent on February 4 after the first details became public. Legally, there is currently no indication that bank employees were personally involved in Epstein’s circle. The issue therefore appears, at first glance, to be a moral one.
In this context, Bernd Villhauer assessed the situation from the perspective of business ethics. He emphasized: “Banks have an obligation to vet the background of their business partners—regardless of legal regulations and compliance guidelines.”
In doing so, Villhauer highlights a central aspect of responsible financial practice: ethical due diligence does not end with compliance with formal rules. Bernd Villhauer discussed this in an article for Deutsche Welle, which was distributed internationally and shared multiple times.
Villhauer was also in demand as an expert in the context of the Munich Security Conference. In German television, on the “Telebörse” program on ntv, he discussed the ethical classification of military stocks against the backdrop of geopolitical uncertainties.
The discussion focused in particular on the question of how investments in defense companies can be evaluated in terms of security policy necessity, economic rationality, and moral responsibility.
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