DEUTSCHE BANK

'Deutsche Bank AG' (, ) () is a bank operating worldwide and employing more than 75,000 people (June, 2007). Its headquarters, the Deutsche Bank Twin Towers, are located in Frankfurt, Germany. Dr. Josef Ackermann is its CEO and Chairman of the ''Group Executive Committee''), Dr. Clemens Börsig is the Chairman of the Supervisory Board. Deutsche Bank, ranked by revenues and profits, is one of the largest investment banks in the world.

Contents

History

Twentieth century

September 11th attacks

The Logo

Organization

Management Board & Group Executive Committee

Acquisitions

Notable current and former employees

Public service

Awards

See also

Main competitors

References

External links

History

Deutsche Bank was founded in Germany on January 22, 1870 as a specialist bank for foreign trade in Berlin by the private banker Adelbert Delbruck and the politician Ludwig Bamberger. Its first branches outside Germany were opened in Shanghai, Yokohama (1872) and London (1873). The first directors were Wilhelm Platenius, Georg von Siemens, and Hermann Wallich. Deutsche Bank acquired the banks Berliner Bank-Verein and Deutsche Union-Bank in 1876 and became then the largest bank in Germany, surpassing the Disconto-Gesellschaft.
Major projects in its first decades included the Northern Pacific Railroad in the United States (1883) and the Baghdad Railway (1888). It also financed bond offerings of the steel concern Krupp (1885) and introduced the chemical company Bayer on the Berlin stock market.

Twentieth century

During the first three decades of the 20th century, it expanded quickly and merged with other local German banks, eventually merging with the Disconto-Gesellschaft in 1929.
The history of Deutsche Bank during the Second World War has been well documented by independent historians commissioned by the Bank. ^[1]
Following Germany's defeat in the war, Allied authorities ordered Deutsche's breakup into ten regional banks on April 1, 1948. These 10 regional banks were later consolidated into 3 major banks in 1952:

★ Norddeutsche Bank AG

★ Süddeutsche Bank AG

★ Rheinisch-Westfälische Bank AG
In 1957 these three banks merged and other takeovers followed, such as London investment bank Morgan Grenfell in 1989; ''Bankers Trust'' in New York in 1998, Crédit Lyonnais Belgium in Brussels in 1999, Moscow-based investment bank United Financial Group in Russia in 2006 and the German norisbank and Berliner Bank in 2007.
In 1995 Deutsche Bank began the transformation from a commercial bank to an investment bank and to provide expertise for investment banking products. By 2005 75% of the Bank's revenues came from investment banking, and the ROE went from 4% to 25%. Deutsche Bank is a world-class leader on the investment banking market, belonging to the so-called bulge bracket.
In 2006 the business in Germany became extended by the acquisition of the Berliner Bank and the Norisbank. Furthermore the Deutsche Bank started to offer financial services in Turkish language called 'Bankamiz' in its German branch banks in 2006.
Deutsche Bank is a member of the Global ATM Alliance, a joint venture of several major international banks that allows their customers to use their ATM card or check card at any other bank within the Global ATM Alliance at no fees. Members of the Global ATM Alliance are Barclays (United Kingdom), Bank of America (United States), BNP Paribas (France), China Construction Bank (China), Santander Serfin (Mexico), Scotiabank (Canada) and Westpac (Australia and New Zealand).^[2]

September 11th attacks

On September 11, 2001, the Deutsche Bank Building, located at 130 Liberty Street in New York City and acquired two years earlier as part of the merger with ''Bankers Trust'', was damaged beyond repair as a result of the 9/11 Terrorist Attack. Large pieces of debris from the Twin Towers hit the Deutsche Bank building, creating a large hole in its center and destroying its main entrance and lobby.
Deutsche Bank sued their insurance carriers to require them to pay out the claims, and in December 2004, Deutsche Bank settled with the insurance carriers and then sold the building to the Lower Manhattan Redevelopment Corporation.^[3]
Deutsche Bank relocated most of its NYC Area units to 60 Wall Street - acquired earlier in 2001 and formerly occupied by J.P. Morgan Chase.
The skyscraper itself has been the subject of long court battles and concerns over toxic contamination. The ongoing discovery of remains of 2001 terror attack victims since it was damaged by the World Trade Center's south tower had stalled dismantling the building.
On August 18th, 2007 a seven alarm fire broke out around the 15th floor of the now-empty building on Liberty Street. Subsequently, 2 FDNY firefighters died of smoke inhalation, 5 other firefighters were injured. No civilians have been reported injured. The building is in the progress of being dismantled floor by floor due to the damage caused on 9/11.^[4]

The Logo

In July 1972, eight notable graphic artists were commissioned to create a new logo for Deutsche Bank that would unmistakably represent the company. From a choice of several brand designs, Deutsche Bank decided upon a symbol created by the now deceased painter and graphic artist from Stuttgart, Anton Stankowski: the “slash in a square”, as the construction was described. This logo fulfils Deutsche Bank's criteria:

★ With a simple yet striking form, the symbol has a high attention-provoking and recognition value.

★ The logo supports the identity of Deutsche Bank: the “slash” stands for consistent growth and dynamic development, the square-shaped frame can be interpreted as a sign of security and a controlled environment. In a nutshell, the logo stands for consistent growth in a secured environment.

★ It is striking, unmistakable and timeless

★ It can be used in all media.

★ The logo can be clearly recognised when reduced in size and at great distances.
The combination of the company name Deutsche Bank and the square-shaped logo constitute since 1974 the Deutsche Bank brand. ^[5]

Organization

Deutsche Bank is organized in three Group Divisions: Corporate and Investment Bank,
Private Clients and Asset Management, and Corporate Investments.^[6]

Management Board & Group Executive Committee

'Group Executive Committee (As of Sept.21,2006)'
'Management Board ''(The Vorstand)'''			'Business Heads of Group Divisions'
'Name'	'Since'	'Position'	'Name'	'Since'	'Position'
Josef Ackermann	1998	Chairman of the executive committee & GEC	Michael Cohrs	2002	Head of Global Banking
Hugo Bänziger	2006	Chief Risk Officer	Jürgen Fitschen	2002	Head of Regional Management
Anthony Di Iorio	2006	Chief Financial Officer	Rainer Neske	2003	Head of Private & Business Clients
Hermann-Josef Lamberti	1999	Chief Operating Officer	Kevin Parker	2002	Head of Asset Management
			Pierre de Weck	2002	Head of Private Wealth Management
			Anshu Jain	2003	Head of Global Markets

Acquisitions

★ Bankers Trust (Successfully Closed) 30 November 1998.^[7]

★ Berkshire Mortgage Finance October 22, 2004.^[8]

★ Chapel Funding, now DB Home Lending September 12 2006^[9]

★ MortgageIT Holdings January 3, 2007^[10]

Notable current and former employees

★ Hermann Josef Abs - Deutsche Bank chairman (1957-67)

★ Sir John Craven - Financier in London

★ Michael Dobson - Head of Schroders

★ Alfred Herrhausen - Deutsche Bank chairman (1971-89)

★ Edson Mitchell - Head of Global Markets (1953-2000)

Public service

★ Masum Ahmed - Economist/Philanthropist

★ Otto Hermann Kahn - Philanthropist

Awards

'IFR, Review of the Year, December 2006'

★ Derivatives House of the Year

★ Investment-Grade Corporate Bond

★ House of the Year

★ Covered Bond House of the Year
'IFR Asia, Review of the Year, December 2006'

★ Bond House of the Year

★ Derivatives House of the Year
'Insurance Asset Manager, September 2006'

★ DeAM ranked No.1 third-party insurance asset manager
'Euromoney, Awards for Excellence, July 2006'

★ Best Investment Grade Debt House

★ Best Risk Management House

★ Emerging Markets Best Debt House
'EuroProperty/INREV, May 2006'

★ RREEF Ranked No.1 Global Real Estate Fund Manager by AuM
'Trade Finance, Awards for Excellence, June 2006'

★ Best Trade Documentation Bank

★ Best Forfaiting Institution
'Euromoney, FX Poll, May 2006'

★ No.1 Provider of FX Services
'Standard & Poor's Fund Awards, March 2006'

★ Best performing mutual fund company — Large 5 & 10 years: DWS/Germany

★ Best performing mutual fund company — Large 10 years: DWS/Austria

★ Best performing mutual fund company — Large 10 years: DWS/Switzerland

See also

★ European Financial Services Roundtable

Main competitors

★ Citigroup

★ Credit Suisse

★ Goldman Sachs

★ JPMorganChase

★ Lehman Brothers

★ Merrill Lynch

★ Morgan Stanley

★ UBS

References

1. [1]
2. "Five big banks form Global ATM Alliance", ATMmarketplace.com. January 9, 2002. Accessed June 22, 2007.
3. [2]
4. http://www.cnn.com/2007/US/08/18/nyc.fire/index.html
5.
6. [4]
7. Acquisition of Bankers Trust Successfully Closed
8. Acquisition of Berkshire Mortgage Finance
9. Acquisition of Chapel Funding
10. Acquisition of MortgageIT Holdings

External links

★ Deutsche Bank Corporate Website

★ German-Turkish Internet Platform of Deutsche Bank

★ Yahoo! Finance - Deutsche Bank AG Company Profile

★ Deutsche Bank AG historical chart