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Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) announced further details of the future strategic management approach and operating principles agreed by the Management Board at its meeting today.
Having assumed their new positions today, the Management Board has agreed to communicate a long-term strategy in September following a period of inclusive dialogue with shareholders, clients, employees, and other key stakeholders.
Jürgen Fitschen, Co-Chairman of the Management Board and the Group Executive Committee, said: “At Deutsche Bank, we have a tradition of developing and articulating a clear strategy across businesses, regions and infrastructure. A core part of this strategic process will be to listen to our key stakeholder groups.”
The Bank will strengthen its balanced universal banking model by establishing a new business division called Asset and Wealth Management (“AWM”). AWM will stand equally alongside the other business divisions Corporate Banking & Securities (“CB&S”), Global Transaction Banking (“GTB”) and Private & Business Clients (“PBC”). AWM will be created by integrating the Bank’s existing asset management and wealth management businesses.
Anshu Jain, Co-Chairman of the Management Board and Group Executive Committee, said: “We have an enduring commitment to our universal banking model and will implement a team-based approach to leadership going forward.”
At its meeting today, the Management Board unanimously approved the Bank’s Business Allocation Plan which defines the responsibilities of Management Board members and the operating model of the Management Board.
|Infrastructure Functions||Responsible Board Member|
|Co-Chairmen functions||Jürgen Fitschen, Anshu Jain|
|Chief Financial Officer||Stefan Krause|
|Chief Operating Officer||Henry Ritchotte|
|Chief Risk Officer||Stuart Lewis|
|Human Resources, Legal and
|Regional Management||Responsible Board Member|
|Germany, Asia Pacific, Americas,
Middle East & North Africa and UK
|Europe (excluding Germany and UK)||Stephan Leithner|
|Business Divisions||Responsible Board Member|
|Asset & Wealth Management
Corporate Banking & Securities
Global Transaction Banking
|Private & Business Clients||Rainer Neske|
|Corporate Investments||Jürgen Fitschen|
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2012 under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.