Deutsche Bank said it reached an agreement with a former employee to resolve all his claims against the bank and staff, and that it expects to book a small hit in its third-quarter results as a result.

The claims relate to a case that stemmed from transactions between German bank and Italy's Banca Monte dei Paschi di Siena in 2008. The former banker, Dario Schiraldi, was one of several former Deutsche Bank employees who sued the bank, alleging harm to their careers after being convicted in Italy and later acquitted.

"The parties have agreed to keep the terms of the settlement confidential," a Deutsche Bank spokesman said. "We can't comment on details but there will be only a small financial impact on [third-quarter] numbers."

Schiraldi couldn't immediately be reached for comment. The former banker sued Deutsche Bank in Germany in 2024 and sought 152 million euros ($176.6 million) in damages.