The art of the $4m+ job offer from Deutsche Bank

If you're looking for a job with a $1m salary and a $4m-$10m bonus with Deutsche Bank in London, then the recently released Epstein Files offer some helpful pointers on how this might be achieved.

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As has been noted, Peter Mandelson, the now disgraced ex-member of the Labour Party, ex-member of the House of Lords and ex-US ambassador, sent some emails to Jeffrey Epstein regarding a job at Deutsche Bank. These we have published below. They are also visible here.

Mandelson's emails suggested that he received an offer to work for Deutsche Bank "on an international basis" in 2010. He claims that he was to be paid up to $4m for his services, but the first email in the chain below suggests he could have earned $11m at the most.

It seems that Mandelson never took the job. Deutsche Bank isn't commenting, but it's understood that Mandelson has never worked for the German bank. Nonetheless, Mandelson's email exchange suggests broad tactics that jobseekers may want to bear in mind.

1. Know a major networker. Mandelson knew Epstein. Epstein was also best chums with Disney fan and ex-Barclays CEO Jes Staley. We are not advocating that anyone befriend a paedophile, but Mandelson's emails with Epstein confirm that knowing people who know people unfortunately makes all the difference.
2. Use an intermediary. One 'Martin Armstrong' spoke to Colin Grassie, Deutsche Bank's then CEO of the UK on Mandelson's behalf. There are Martin Armstrongs who fit this potential profile on Google. We asked one of them to comment; he declined.
3. Be keen. Accept all job offers promptly 
4. Use one offer to get another. Having accepted the offer from Deutsche Bank, Mandelson tried to get a better offer from Kleinwort's from someone called Tim Collins, who had big opinions about Deutsche's strategy.
5. Do not disclose your different offers. Epstein told Mandelson not to tell Tim about his Deutsche Bank discussions.

Ultimately, it seems that Mandelson took neither job. It is not clear why.

 The Deutsche Bank emails:

From: Jeffrey Epstein jeevacation@gmail.com
Date: Wed, 30 Jun 2010 09:28:07 -0400
To: PETER MANDELSON
Subject: Re: Fw: Colin Grassie

good first step..

On Wed, Jun 30, 2010 at 9:23 AM, PETER MANDELSON <PETER_MANDELSON_EMAIL> wrote:
As you were saying.......

--- On Wed, 30/6/10, Martin Armstrong <MARTIN_ARMSTRONG_EMAIL> wrote:

From: Martin Armstrong <MARTIN_ARMSTRONG_EMAIL>
Subject: Colin Grassie
To: PETER MANDELSON <PETER_MANDELSON_EMAIL>
Cc: "Serena Cole" <SERENA_COLE_EMAIL>
Date: Wednesday, 30 June, 2010, 14:16

Dear Peter,

I spoke with Colin Grassie to day about a role as an advisor for you with Deutsche Bank. In this meeting we agreed the parameters for a further discussion with Anshu Jain next week. The context of their interest in you is that Anshu has now taken responsibility for the Investment Bank and he needs to arrange the Bank's relationships with its customers more effectively. He would, by acquiring your services, be able to access Governments, Families and Corporations on an International basis and this is the reason for his interest in you.
In our meeting we discussed a retainer of Million Dollars per annum and a discretionary bonus based upon a year end conversation between you and Anshu and Colin Grassie.
We agreed that this was a better way than a formulaic approach because your contribution would be hard to quantify and would be in conjunction with the bankers working within the group. We also agreed that it should be based upon what a senior banker would be paid in the UK market. This is somewhere between 4 and 10 million dollars per annum. We did not discuss time commitment and I feel that we should not be specific about this, so that you have maximum flexibility. I suggest that we have a further conversation over the weekend so that we can agree the other elements of the deal such as title, office and the nature of the employment contract between Deutsche Bank and yourself.

I will ask Serena to arrange a call at the weekend.

Yours
Martin

From: [Name Redacted]
To: "Jeffrey Epstein" jeevacation@gmail.com
Subject: Re: Fw: Colin Grassie
Date: Wed, 30 Jun 2010 13:39:41 +0000

You told me to be quick. I have accepted it already.

Sent from my BlackBerry® wireless device

From: Jeffrey Epstein jeevacation@gmail.com
Date: Wed, 30 Jun 2010 09:33:35 -0400
To: [Name Redacted]
Subject: Re: Fw: Colin Grassie

ok ok ok good petey well done petey,, now --raise your sights

On Wed, Jun 30, 2010 at 9:30 AM, [Name Redacted] wrote:
That all you can say??!!

Good petey, well done petey.

Sent from my BlackBerry® wireless device

From: Jeffrey Epstein jeevacation@gmail.com
Date: Wed, 30 Jun 2010 09:28:07 -0400
To: PETER MANDELSON <PETER_MANDELSON_EMAIL>
Subject: Re: Fw: Colin Grassie

good first step..

Sent from my BlackBerry® wireless device

To: Jeffrey Epstein jeevacation@gmail.com
From: PETER MANDELSON
Sent: Mon 7/12/2010 11:34:28 AM
Subject: Re:

really, what was that??
read the Times.....

--- On Mon, 12/7/10, Jeffrey Epstein jeevacation@gmail.com wrote:

From: Jeffrey Epstein jeevacation@gmail.com
Subject: Re:
To:
Date: Monday, 12 July, 2010, 12:33

I enjoyed the guardian spoof

On Mon, Jul 12, 2010 at 6:45 AM, [Name Redacted] wrote:
Have you seen Times serial and new online i/v today?

Sent from my BlackBerry® wireless device

From: Jeffrey Epstein jeevacation@gmail.com
Date: Sun, 11 Jul 2010 16:53:53 -0400
To: [Name Redacted]
Subject: Re:

it is only in the beginning, do not let others know, you will take away all our negotiation posture

On Sun, Jul 11, 2010 at 4:24 PM, [Name Redacted] wrote:
That wasn't DB offer. It was 1 plus an end year share which may be 3-5.

Sent from my BlackBerry® wireless device

From: Jeffrey Epstein jeevacation@gmail.com
Date: Sun, 11 Jul 2010 15:54:47 -0400
To: PETER MANDELSON <PETER_MANDELSON_EMAIL>
Subject: Re:

db’s offer was 1 million but with a 4-10 million total.. DO NOT CONFIDE other offers with Tim..

On Sun, Jul 11, 2010 at 3:41 PM, PETER MANDELSON <PETER_MANDELSON_EMAIL> wrote:

I think Kleinwort looking more interesting.
Tim says they will have partners and senior advisers, roughly ten of each. You should read the FT article from last week, gives good flavour of the exclusive, investment advisory and asset managing bank they want to build. Tim aims to be the biggest stockholder in ten years time. I could build up my own stock over that time on a lower retention fee than DB but with a possibly clearer (and potentially) bigger deal share at end of year, depending what I bring in.
Tim says I am underselling myself to DB at 1m. He says that I will be adding substantial but unquantifiable value to them and this will lead to a difficult end year negotiation. Says Jain is very good but danger of him not hanging around indefinitely cos he'll never get top job. Says they will vacuum out my rolodex and the difficulty will be becoming part of deals.

I am attracted by building something and being there at beginning.

--- On Sun, 11/7/10, Jeffrey Epstein jeevacation@gmail.com wrote:

From: Jeffrey Epstein jeevacation@gmail.com
Subject: Re:
To:
Date: Sunday, 11 July, 2010, 18:28

no, lets see what each has to offer

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