Extensive preliminary investigations have shown that considerable cost savings can be realized through a cooperation with IBM. In addition, the Bank expects increased flexibility in the use of resources and a strategic cooperation in the standardization of global IT processes. "By outsourcing the European IT infrastucture our efficiency will be further increased. In particular, Deutsche Bank will be able to implement the transition to new technologies more rapidly," said Hermann-Josef Lamberti, Deutsche Bank's Chief Operating Officer. "I expect better career opportunities for IT staff than we are able to offer them within a bank." All employees working in the area to be outsourced will be taken on by IBM.
Deutsche Bank expects operational responsibility to be handed over in the first quarter of 2003. This will comprise the outsourcing of the infrastructure (computer centers and smaller server sites) including around 900 employees in Continental Europe. IBM intends to create a European computer center in the Rhine-Main area, the services of which shall also be offered to other companies.
A further investigation into the outsourcing of networks will be conducted separately on a global scale.
Forward-looking statements involve inherent 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 trading revenues; potential defaults of borrowers or trading counterparties; the implementation of our restructuring including the envisaged reduction in headcount; the reliability of our risk management policies, pro-cedures 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 March 27, 2002 on pages 9 through 13 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded stated below.
SEC Form 20F - PDF / 2.7 MB