New York, July 1, 2010

Chuck Leitner to lead worldwide alliance to 'Green' Real Estate


Pierre Cherki appointed Global Head of RREEF

Deutsche Bank’s Asset Management division (DeAM), in partnership with Greenprint Foundation, today announced that Charles B. Leitner III will assume the role of Chief Executive Officer of Greenprint, a worldwide alliance of leading real estate owners, investors and financial institutions committed to reducing carbon emissions across the global property industry. Leitner will spearhead the Foundation’s initiative to reduce real estate carbon emissions. RREEF, the real estate investment management business of DeAM is a founding member of Greenprint and strongly supports his decision to take on this new position. 
 
Leitner will assume the role of Chairman of RREEF and will remain actively engaged in the business including participating in RREEF's various investment committees and contributing to the meetings of the Boards of Directors of funds and entities.

Pierre Cherki has been appointed Global Head of RREEF, effective immediately. Cherki, who will be based in New York, was previously Head of Europe, Middle East and Asia Pacific for RREEF and has been a senior leader within the organization for over 13 years. Cherki will report to Kevin Parker, Global Head of DeAM and a Member of the Deutsche Bank Group Executive Committee.

Parker said, “The Greenprint alliance is of paramount importance because of the enormous opportunity to cut carbon emissions. More than one third* of the world’s greenhouse gas emissions come from buildings - reducing that footprint is perhaps the most significant contribution anyone can make to the reduction of greenhouse gasses globally.  DeAM is already an industry leader on climate change issues, with a mission to raise awareness of the problem, and I am proud and delighted that Chuck will be contributing his wealth of knowledge and expertise to Greenprint.”

Leitner has been a member of Greenprint’s board since its founding in 2009, most recently serving as Treasurer.  

“I am excited to take on the leadership of the Greenprint Foundation as it is poised to become a catalyst for change in how the real estate industry combines the reduction of our carbon footprint with adding value to our portfolios,” said Leitner.

Cherki has deep investment and management experience in many markets of the world and assumes this role after 13 years at RREEF.  He was most recently responsible for managing RREEF's business in Europe, Middle East and Asia Pacific with approximately €20 billion of assets under management across 10 offices.  Cherki earned an MBA from the Kellogg School of Management of Northwestern University.

Parker added, "I am confident in Pierre’s ability to lead RREEF into a new phase of growth and development as we emerge from the unprecedented challenges in the real estate sector.  Our clients are looking to capitalize on opportunities in the markets and as RREEF seeks to raise the bar on performance and risk standards, Pierre has an ideal background to develop and execute this strategy for the RREEF business and its clients.”

DeAM is one of the world’s leading climate change investors with $6.8 billion in climate change-related assets under management as of March 31 2010.  In June 2009, DeAM launched the world’s first real-time carbon counter on a 70-foot tall billboard outside Madison Square Garden in New York City.

A recent RREEF research paper, entitled, “The Greening of U.S. Investment Real Estate” argued that green building is fundamentally altering real estate market dynamics – property owners will need to adapt quickly or risk the consequences of shrinking demand or becoming obsolete.


* The built environment contributes approximately 35% of the world’s greenhouse gas emissions, according to McKinsey Global Institute, May 2007.  The World Green Buildings Council calculates that buildings contribute more than 40% of global ghg emissions.

 

For further information, please call:          

Deutsche Bank AG                                

Press and Media Relations

Mayura Hooper
Phone: +1 212 250 5536
E-Mail: mayura.hooper@db.com



About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,849 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

www.db.com


About Deutsche Asset Management

With approximately $709 billion in assets under management globally as of 30 December 2009, Deutsche Bank’s Asset Management division is one of the world's leading investment management organizations, not just in size, but in quality and breadth of investment products, performance and client service.  The Asset Management division provides a broad range of investment management products across the risk/return spectrum.


About RREEF

RREEF is the real estate investment management business of Deutsche Bank’s Asset Management division.  RREEF employs more than 650 employees in 13 cities around the world to help investors meet a wide range of objectives – from diversification, to preservation of capital, to long-term performance.  Named one of the world’s largest real estate investment managers in Watson Wyatt’s Global Alternatives Survey, June 2009, RREEF has €39.5/$53.5 billion in assets under management worldwide as of 31 March 2010.

RREEF acquires and manages investments in commercial and residential property, and real estate securities on behalf of its institutional and private clients worldwide. Its product offering is global and comprehensive, including core, value-enhanced and high yield property investments as well as investments in publicly traded real estate securities.


About Greenprint Foundation

Greenprint Foundation is a worldwide alliance of leading real estate owners, investors, and financial institutions committed to reducing carbon emissions across the global property industry. Greenprint Foundation is a catalyst for change, taking meaningful, immediate, and measurable actions to generate solutions that improve energy efficiency and create value in property portfolios.  The Foundation focuses on the built environment, which represents one third of all carbon emissions.

Greenprint Foundation’s current membership roster includes, Aetos Capital, Allianz, AvalonBay, Beacon Capital Partners, Douglas Emmett, GLL Real Estate Partners, Henderson Global Investors, Hines, Jones Lang LaSalle, McArthur Glen, Paramount Group, PATRIZIA Immobilien, ProLogis, Prudential, RREEF, Sonae Sierra.

http://www.greenprintfoundation.org/




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