Deutsche Bank

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Deutsche Bank
Founded	1870
Headquarters	Frankfurt, Germany (Locations [1])
Key People	Dr. Josef Ackermann, chairman, management board & group executive committee; Dr. Hugo Banziger, chief risk officer; Anthony di Iorio, CFO; Hermann-Josef Lamberti, COO
Employees	68,500+ (end of 2006)
Products	Investment bank
Corporate Website	www.deutsche-bank.com

High Frequency Trading Regulation - White Paper - Deutsche Bank Research: High Frequency Trading:Better than its Reputation? - February 7, 2011

Deutsche Bank Comment Letters

Deutsche Bank is a global investment bank with offices in 74 countries. Deutsche Bank's lines of business include corporate banking and securities, transaction banking, asset management and private wealth management. It has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.

Deutsche Bank Securities Inc. is the investment banking and securities arm of Deutsche Bank AG in the United States.

In December of 2011, Deutsche Bank representatives said the company would continue growth initiatives in the areas of risk management, clearing, sales and products in 2012.

Products and Services (Corporate and Investment Bank)

Advisory

• Mergers and acquisitions
• Financial sponsors (services for private equity firms including access to derivative and equity products, leveraged finance and M&A advisory)
• Access to industry specialists

Asset Finance & Leasing

• Competency in capital, project and real estate advisory; arranging/financing services in diverse asset classes (e.g., Big Ticket and Real Estate Leasing, Structured Investments and Construction Management)

Cash Management

• Management services to optimize cash flows and working capital

Exchange Traded Funds

• db x-trackers ETFs, Deutsche Bank Exchange Traded Funds

Trade Finance

• Solutions for importers and exporters

Trust & Securities Services

• Debt Services (range of products for bonds, CP and MTN programs, project financings, escrows, restructurings, syndicated loans, auction rate securities and Islamic financings)
• Structured Finance (specializes in asset and mortgage backed securities, collateralized debt obligations, asset-backed CP conduits and SIVs)
• Corporate Services (management/administration for tax-neutral and tax-advantaged structures)
• Equity Services (ADRs, global shares, German shares and German capital transactions)
• Domestic Custody (safekeeping and clearing services for securities in 28 markets)

Global Markets

• Services clients' financing, investing and hedging needs

Global Banking

DB's Corporate Finance and Global Transaction Banking activities are collectively called Global Banking.

• Corporate Finance includes the following services: advisory; equity capital markets; debt finance; commercial real estate; UK corporate brokering; client coverage; industry and regional specialization

• Global Transaction Banking includes: global trade finance and cash management and trust & securities services

Products and Services (Private Clients/Asset Management)

PCAM is Deutsche Bank's investment management business for private and institutional clients. It has two corporate divisions, Asset and Wealth Management and Private & Business Clients. Services include:

Certificates and Warrants

• X-markets
• Warrants
• Certificates
• Funds
• Notes

Foreign Exchange Trading

• dbFX is Deutsche Bank's online foreign exchange trading platform for individuals and small institutions.

Private and Business Clients, Europe

Banking services for private and business clients while away in Europe:

• Belgium
• Italy
• Poland
• Portugal
• Spain

DWS Investments

DWS Investments, founded in 1956, is the mutual fund arm of Deutsche Asset Management. In Europe, DWS ranks as the second-largest mutual fund company. Originally concentrated in European markets, it now covers countries and products across the United States, Asia Pacific and the Middle East.

RREEF

RREEF is the global alternative investment management business of Deutsche Bank’s Asset Management division. It is headquartered in New York. Named the world’s largest alternative investments manager in Global Investor/Watson Wyatt’s Alternative Survey, June 2007, RREEF has €68.2 billion in assets under management worldwide as of Sept. 30, 2007.

RREEF Alternative Investments consists of four businesses:

• Real Estate
• Infrastructure
• Private Equity
• Hedge Funds

Deutsche Asset Management

Deutsche Asset Management is the fiduciary institutional investment management business of Deutsche Bank's Asset management division.

Key People

• Dr. Josef Ackermann: chairman of the management board and the group executive committee (responsible for corporate and investment bank; private clients and asset management; corporate investments; regional management; corporate communications; corporate social responsibility; corporate development; economics)

• Dr. Hugo Banziger: chief risk officer (responsible for risk management; legal; compliance; corporate security; treasury and capital management).

• Juergen Fitschen: Appointed Co-CEO in August 2011, head of regional management worldwide

• Anshu Jain: Appointed Co-CEO in August 2011, head of the corporate & investment bank

• Stefan Krause: CFO (responsible for finance; tax; corporate insurance; investor relations; corporate governance; audit and operations of securities settlement according to MaRisk)

• Hermann-Josef Lamberti: COO (responsible for human resources; information technology; operations excluding Securities Settlement according to MaRisk; cost and infrastructure management; building/facilities management; purchasing)

• Rainer Neske, head of private & business clients

Stephan Leithner, Stuart Lewis, and Henry Ritchotte, would join the management board on June 1, 2012, the Frankfurt-based bank said on March 16, 2012 in a statement. Chief Risk Officer Hugo Banziger, and Chief Operating Officer Hermann-Josef Lamberti, would leave the company on May 31, Deutsche Bank said.

Timeline

1870	Deutsche Bank is founded in Berlin - its purpose: "to transact banking business of all kinds, in particular to promote and facilitate trade relations between Germany, other European countries and overseas markets."
1871/72	First branches in Bremen and Hamburg, followed by more branches in, for example, Frankfurt am Main, Munich, Leipzig and Dresden.
1873	Opening of the first European foreign branch in London.
From 1880	Deutsche Bank begins to supply industry with loans and capital market products. Foreign investments in North and South America, Eastern Asia and Turkey.
From 1914	As a result of the acquisition of several regional banks Deutsche Bank establishes a branch network all over Germany.
1929	The biggest ever merger in German banking history creates the “Deutsche Bank und Disconto-Gesellschaft.”
From 1933	Jewish employees are forced to resign.
1937	The company name is changed back to “Deutsche Bank.”
1938	Deutsche Bank is involved in "Aryanisations" (in Nazism, a term used for the expropriation of Jews, Roma (gypsies), Slavs, Poles, Communists, mentally and physically handicapped in Nazi Germany, Austria and the territories it controlled.
1945	Closure of Deutsche Bank’s Berlin head office and of all branches in the Soviet-occupied zone.
1947/48	In the western zones of occupation, Deutsche Bank is decentralized into ten regional institutions.
1952	The so-called Big Banks Act allows the amalgamation of the ten successor institutions into three joint stock companies: Norddeutsche Bank AG, Rheinisch-Westfälische Bank AG and Süddeutsche Bank AG.
1957	Re-amalgamation of the three successor banks to form Deutsche Bank AG, a joint stock corporation with its registered office in Frankfurt am Main.
1959	Deutsche Bank enters retail banking by introducing small personal loans.
1970	Foundation of today’s Deutsche Bank Luxembourg S.A.; in the next ten years, the bank pushes ahead with the internationalization of its business; offices are opened at new locations such as Moscow, London, Tokyo, Paris and New York.
1986	Acquisition of Banca d´America e d´Italia; this is the first time the bank has acquired a sizeable branch network in another European country.
1989	Acquisition of Morgan Grenfell Group; with this step, Deutsche Bank strengthens its position in the international securities business and expands its presence on the important London capital market.
1990	Deutsche Bank starts operations in the new federal states with the foundation of Deutsche Bank-Kreditbank AG.
1999	Acquisition and integration of Bankers Trust in the U.S.
2001	The Deutsche Bank share is traded for the first time on the New York Stock Exchange.
2002	Purchase of the US asset manager Scudder Investments.
2003	Acquisition of the Swiss Private Bank Rued Blass & Cie.
2006	Complete acquisition of the Russian investment bank United Financial Group (UFG).

History

In August of 2011, the bank appointed made an unusual move by appointing co-CEO's; Anshu Jain and Juergen Fitschen to replace Josef Ackermann. It is believed that one of the co-CEO's will step down in a few years.

In May of 2010, Deutsche Bank chief financial officer Stefan Krause called for a “level playing field” on regulatory issues such as capital requirements after Germany introduced a ban on naked short-selling.

In May of 2010, Deutsche Bank AG was advised by a Frankfurt appeals court to settle a lawsuit brought by a utility in Pforzheim, Germany, over interest rate swaps. The Frankfurt Higher Regional Court recommended Deutsche Bank pay half the 4 million euros ($4.9 million) sought by Stadtwerke Pforzheim, the newspaper said. The utility said the lender wrongfully advised it when selling the derivatives, the FAZ added. Deutsche Bank denied the allegations.

Spin-offs

In August 2010, the company announced it has spun off the quantitative strategies group from DB Advisors, its institutional asset-management operations, via a management buyout. Financial details weren't disclosed. The newly named QS Investors, LLC, with $11 billion in assets under management, will continue services it currently provides, including global tactical asset allocation, U.S. active quantitative equity investing and what it calls diversified-based investing that focuses on countries and sectors, rather than individual stocks. It also will act as a sub-advisor for Deutsche Bank funds it currently manages.

Deutsche Bank announced in January 2010 that DB Advisors will spin off its thematic equity, agribusiness and quantitative investment strategies through two boutique firms.

A person familiar with the situation told the Wall Street Journal in early August that the two spinoffs have achieved what DB Advisors set out to do, and that there won't be further spinoffs within the unit in the near term. The bank said in January 2010 it is still strongly committed to expanding its asset-management division, which had $675 billion in assets under management as of June 30.