Deutsche Bank has appointed Boris Liedtke as Chief Country Officer for Luxembourg. He will take over the role from Ernst Wilhelm Contzen effective January 1, 2014. Liedtke will be responsible for implementing the Bank’s strategic direction as well as for the management of Deutsche Bank Group in Luxembourg across all divisions to further develop the franchise in the country. He will report to Stephan Leithner, Member of the Management Board and Group Executive Committee of Deutsche Bank and CEO Europe (except Germany and UK), Human Resources, Legal, Compliance, Government & Regulatory Affairs.
During the past four years, Liedtke has been CEO and Chairman of Deutsche Asset Management in Asia. Prior to this role, he was Board Member and responsible for the operational business of DWS Investments in Europe. Liedtke holds a PhD from the London School of Economics and has worked for nearly 20 years for Deutsche Bank in several senior roles including assignments in Singapore, Frankfurt, New York, Hong Kong and London.
With 35 years of experience at Deutsche Bank, Ernst Wilhelm Contzen will continue to perform his current functions including his membership of the Board of Directors of Deutsche Bank Luxembourg S.A. and DWS Luxembourg S.A. and as General Manager of Deutsche Bank AG Luxembourg branch, until end of December 2013. He will then join the Supervisory Board of Deutsche Bank S.A. in Luxembourg, which will be newly established. From January 2014, Liedtke will assume the roles of Chief Country Officer, in particular as CEO of Deutsche Bank S.A. Luxembourg.
During the planned transitional period Contzen will continue to serve key clients. Deutsche Bank continues to support Contzen in his function as President of the Luxembourg Bankers' Association (ABBL) that he will continue to perform until end of April 2014.
Stephan Leithner said: “Boris Liedtke brings a wealth of experience in leadership positions with him. Together with the management team in Luxembourg he will continue to further develop Deutsche Bank’s franchise in today’s challenging environment.” Leithner thanks Contzen: “In his roles as Chief Country Officer Luxembourg and Chief Executive Officer of Deutsche Bank Luxembourg S.A., Ernst Wilhelm Contzen has been instrumental in achieving Deutsche Bank’s strong positioning in Luxembourg over the past 15 years. Under his leadership, Deutsche Bank has gained distinctive recognition as a leading foreign financial institution in Luxembourg. We thank him for his outstanding commitment and contributions.”
Ernst Wilhelm Contzen said: “It has been a privilege to serve our clients over so many years, and I am truly grateful for their trust and confidence. Also I would like to thank my colleagues who have always supported me and who have been vital to successfully developing our franchise. Please join me in according the same trust to Boris Liedtke.”
For further information, please contact:
Deutsche Bank AG
Press & Media Relations
Tel: +49 69-910 42648
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 15 April 2013 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir