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Deutsche Bank Luxembourg S.A.

When it was founded in 1970, Deutsche Bank Luxembourg S.A. (also referred to as the “Bank”) was the first foreign subsidiary to be established by Deutsche Bank AG (the “Parent”) after the signing of the Treaties of Rome (1957). Today, it is one of the leading financial service providers in the Grand Duchy of Luxembourg. The Bank is under the direct, sole ownership of the Parent. In accordance with Article 131 (3) of EU Directive 2013/36/EU, the Bank is classed as an Other Systemically Important Institution (O-SII). It is subject to direct prudential supervision by the European Central Bank (ECB). The Bank is a non-trading book institution; its capital, both regulatory and statutory, including Tier II capital, amounts to approximately € 6 billion as at 31 December 2017 (previous year: € 5 billion).

Corporate Governance

Since 2014, the Bank’s Articles of Association have provided for a two-tier system of corporate governance comprising a Management Board and a Supervisory Board. The Bank has thus taken its cue from the Parent’s corporate governance system. The Management Board has overall responsibility for managing the Bank’s business activities in accordance with the applicable prudential requirements and on the basis of the business allocation plan adopted by the Supervisory Board. The Supervisory Board oversees the activities of the Management Board and adopts operational objectives and strategic guidelines in line with the Parent’s requirements regarding overall Group management. The Supervisory Board is supported in its work by two sub-committees: the Audit Committee and the Risk Committee. In addition, Internal Audit, the compliance function and the risk control function report independently to the Supervisory Board if and when required.

Business model

The Bank has a business model that is diversified, client-focused and international, i.e. geared to cross-border business. For many years – and across economic, business and product-related cycles – this has enabled the Bank to make a relevant positive contribution to Deutsche Bank AG’s consolidated earnings. At the same time, the Bank’s risk-bearing capacity and risk appetite are based on its own capital and liquidity resources. One defining feature of its business model as a non-trading book institution, and of importance from a client perspective, is the long-term nature of the Bank’s chosen areas of activity:

Corporate Finance (Corporate & Investment Bank)

The Bank is a proven centre of excellence in Deutsche Bank Group for the provision of medium- to long-term financing to listed, owner-managed and other relatively large businesses. Its position as a lender, agent and international service provider to clients in bilateral and syndicated lending is based on decades of expertise in the lead management of international lending syndicates, the legal formulation of credit documentation, particularly in cross-border transactions, and reliable credit administration over their lifecycle. In addition, this area of activity is supported by a dedicated IT application in which the Bank continues to invest.

Structured Finance (Corporate & Investment Bank)

In the segment for high-quality capital goods (e.g. special-purpose vessels, aircraft), long-term utility and infrastructure projects (e.g. alternative forms of energy, transport routes) and cross-border working capital finance (partly emerging market-related), the Bank – in concert with other units in Deutsche Bank Group’s international network – has the necessary expertise and the operational resources to reliably assist clients in structured and property-related financing scenarios across the entire maturity spectrum. The Bank also acts as fiduciary issuer, trustee and investor.

Private Asset Management (Wealth Management)

The Bank is a service centre and centre of excellence within the EU and for selected markets in the Europe, Middle East & Africa (EMEA) region in the cross-border and cross-generation management of international private assets. Here, the Bank makes use of the freedom to provide investment advice and distribute financial products across borders within the EU single market in accordance with the applicable provisions. Besides the investment expertise in Luxembourg, wealth management activities also leverage the Bank’s many years of experience and expertise as a centre for lending and financing.

Investor & Issuer Services

The Bank assists investors (including fund companies) and issuers in a variety of roles under the mandates awarded to it, including as agent, trustee or depositary. In providing services for fund companies, long-term asset classes such as real estate and private equity capital are front and centre. The Strategy section contains further information on upcoming changes affecting the aforementioned service offerings.
Partly in light of the Luxembourg Stock Exchange’s role (“Lux SE”) as a world-leading listing venue, other services for issuers focus primarily on debt securities.

Participation Management

The Bank has many years’ expertise in the domestic and cross-border management and administration of company and financial interests. This is based on its experience of providing company law- and accounting-related support throughout the term of equity and financial investments, on its experience of corporate governance and risk management issues and on the Bank’s capital strength. The latter allows it to address the opportunities and risks inherent in equity and financial investments and manage them over the long term in accordance with the applicable bank regulatory framework.  

Corporate citizen

The Bank has had its home in the Grand Duchy of Luxembourg since 1970 and at its registered office on the Kirchberg Plateau designed by the architect and Pritzker architecture award winner Prof. Gottfried Böhm (2, boulevard Konrad Adenauer, L–1115 Luxembourg) since 1991. The Bank is a member of the Luxembourg Bankers’ Association (Association des Banques et Banquiers, Luxembourg (ABBL)). As a member of Private Art Kirchberg, through a number of private tours of art collections and as a venue for forums and seasonal concert performances, the Bank has for many years made a relevant contribution to dialogue around economic and social issues as well as to cultural life in the Grand Duchy of Luxembourg.
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Last Update: August 2, 2018
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