London, November 21, 2005

Deutsche Bank announces management structure for Global Markets Equity (GME)


Deutsche Bank today announced the management structure for Global Markets Equity (GME), a new business formed through the integration of cash equities trading and equity derivatives. The management structure will be effective immediately and headed up by Yassine Bouhara, Head of Global Markets Equity.

GME will consist of the following seven global products:

Equity Trading will be headed directly by Yassine Bouhara. This group will comprise Cash Equity Trading, Brokerage and Program Trading. 

Jon Hitchon and Noreddine Sebti will co-run Synthetic Equity, which will include all "delta one" equity products such as certificates, swaps and ETFs. Hitchon will also manage the Prime Services group as a joint venture between GME and Global Finance. Hitchon joined Deutsche Bank in 1989 and will be based in London.

Noreddine Sebti will head up the Equity Derivatives platform.  Products in this business area will include Index, Single Stock Listed and OTC equity derivatives as well as Correlation, Flow Exotics and Client Execution Services. Sebti, who joined Deutsche Bank in 1998, will also be responsible for global derivatives risk and will be based in New York.

Complex Equity, including products such as complex financing, complex derivatives, hybrids and exotics, will be run by Richard Carson in London. Carson joined Deutsche Bank in 1996. 

Marcus Overhaus will head up the Quantitative Products group, comprising Modelisation and Derivatives Structuring.  Overhaus joined Deutsche Bank in 1992.  He will continue to be based in London.

Serge Marquie and Johan Groothaert will jointly manage the Structuring teams, based in New York and London respectively. Marquie joined the bank in 1997 and Groothaert in 1999.

The regional management of GME will consist of Rob Karofsky in North America, Garth Ritchie in Europe, Colin Fan in Asia, Henry Ritchotte in Japan, Stevan Vrcelj in Australia and Kerim Derhalli for Emerging Markets (Latam and CEMA).  Each regional manager will have responsibility for all GME products in their region.

Sethu Palaniappan will be Global Chief Operating Officer, based in London. He will jointly report to Bouhara and Mark Ferron, Global Markets COO. Palaniappan was appointed COO of Global Equity Derivatives in 2002. He joined the bank in 1997. 

All management will report directly to Bouhara.

Yassine Bouhara, Head of Global Markets Equity, said: "The creation of GME successfully completes the alignment of equities with the rest of Global Markets. Moving to a regional framework rationalises operational and technological infrastructures across all asset classes, and leaves our equities platform well positioned for further growth.  I am confident and excited about the future of GME."


For further information, please call:

Deutsche Bank

Anna Watson   (44 20) 7547 2603
Press and Media Relations


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