Deutsche Bank will organize its businesses in two Groups, Corporate & Institutional Clients Group and Asset Management & Private Clients Group.
The Corporate & Institutional Clients Group combines all of Deutsche Bank's corporate and investment banking, real estate and institutional businesses. This Group will strengthen its origination platform, make more efficient use of capital, and accelerate growth in fee-based businesses. It will continue to build its highly successful trading & sales operation. With the objective to provide integrated customer solutions all security services, cash management and trade finance businesses will be concentrated as Global Transaction Services in this Group underlining Deutsche Bank's determination for leadership in this area.
The Asset Management & Private Clients Group will comprise all of the asset management businesses and private client businesses including Deutsche Bank 24, Private Banking, DB Alex. Brown Private Client Services and other retail distribution. This will create a leading asset gathering and distribution platform on a global scale. Further focus will be given to aggressively build e-brokerage and alternative investment capabilities and harmonize infrastructure and investment processes.
The respective responsibilities of all Board members will not be effected. Dr. Rolf-E. Breuer, Spokesman of the Board said: "Deutsche Bank has demonstrated significant momentum in 2000 in all its businesses. This new organizational alignment allows us to further strengthen the services provided to our clients worldwide. It will foster collaboration and connectivity between our businesses and further increase transparency while maintaining clear responsibility and accountability. This decisive step will position Deutsche Bank successfully for the future and allow it to continue to build value for shareholders."
Over the next few weeks details of the new structure will be finalized. Business plans and pro-forma financials will be presented together with Deutsche Bank's release of key figures for 2000 in early February.