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Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) announced today that it has appointed Jacques Brand, 52, as Chief Executive Officer of North America. Brand will also become a member of Deutsche Bank’s Group Executive Committee.
Brand joined Deutsche Bank in 1999 in New York and most recently has been the Global Head of Investment Banking Coverage & Advisory in the Bank’s Corporate Banking & Securities division. Under Brand’s leadership, Deutsche Bank’s corporate finance market share in the United States increased by 75% since 2008 according to Dealogic.
Brand is Chairman of the Board of the American Institute of Contemporary German Studies (AICGS) affiliated with Johns Hopkins University. He is a board member of The Deutsche Bank Americas Foundation and The Jewish Museum in New York. Brand received an undergraduate degree from Boston University and a graduate degree from Harvard Business School.
Brand succeeds Seth Waugh, 54, who, as announced in February, is stepping-down after over a decade as CEO of the Americas. Waugh will join Deutsche Bank’s Americas Advisory Board and become a senior advisor to the Bank and its clients.
Also today, Deutsche Bank announced that it has appointed Bill Woodley, 46, as Deputy CEO of North America. Woodley joined Deutsche Bank in 1998 and most recently has been Global Chief Operating Officer of the Regional Management division, a position that he will retain. Woodley previously served in a variety of roles at the Bank, including as COO of Asia Pacific.
In a joint statement, Jürgen Fitschen and Anshu Jain, Co-Chairmen of the Management Board and the Group Executive Committee of Deutsche Bank, said: “Jacques Brand has a long track-record of outstanding results with the Bank’s stakeholders. With their client-centric approach, Jacques and Bill are the right leadership team to lead our vital North American franchise.”
Fitschen and Jain also said: “On behalf of the entire Management Board, we thank Seth for his years of service to the Bank.”
Jacques Brand, CEO of North America at Deutsche Bank, said: “I am excited to take on these broader responsibilities at Deutsche Bank. I look forward to continuing to work with clients, businesses and all our stakeholders while setting the strategic direction for our business in North America.”
In 2011, the Americas Region contributed 18% of total net revenues. In 2012, Deutsche Bank was #1 in the Greenwich Associates Survey of US Fixed Income Trading for the third year in a row, the #1 Prime Broker in North America according to Global Custodian and #1 in FX in North America in the Euromoney FX poll.
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.