IR Releases - Archive

February 5, 2003

Deutsche Bank acquires Rüd, Blass & Cie AG from Zurich Financial Services

Deutsche Bank and Zurich Financial Services today announced the signing of a definitive agreement regarding the acquisition of Rüd, Blass & Cie AG Bankgeschäft, a Swiss private bank, by Deutsche Bank. Under the agreement, Deutsche Bank (Switzerland) Ltd. will acquire 100% of the Zurich-based bank. The transaction is subject to regulatory approval.

Rüd, Blass & Cie AG focuses on providing private banking solutions to high net worth individuals. It is noted for its expertise in managing Swiss and European equities and Swiss real estate investment products and has CHF 7.1 billion invested client assets.

Pierre de Weck, Global Head of Deutsche Bank's Private Wealth Management unit, said, "This acquisition provides an ideal platform for Deutsche Bank's entry into the Swiss private wealth management onshore market, while leveraging Deutsche Bank's first class infrastructure. Rüd, Blass & Cie AG will operate under its current brand name as a separate legal entity."

This Investor Relations Release contains forward-looking statements. Forward-looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Any statement in this Investor Relations Release that states our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a for-ward-looking statement. These statements are based on plans, estimates and projections as they are cur-rently 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.

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 manage-ment 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 from

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