Media Release June 1, 2022

Changes to Deutsche Bank’s Group Man­age­ment Com­mit­tee

  • Stefan Hoops to assume responsibility for Asset Management
  • David Lynne to lead Corporate Bank
  • Asoka Woehrmann leaves DWS Executive Board at the end of DWS’ Annual General Meeting on 9 June

Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) today announced changes to its Group Management Committee after Asoka Woehrmann announced his resignation, in agreement with the company, as Chief Executive Officer of DWS Group. Stefan Hoops will take responsibility for Asset Management at Group level. In addition, Hoops will become Chief Executive Officer of DWS Group with effect from 10 June 2022.

“Asoka Woehrmann has played a major role in the success of our Asset Management in recent years,” said Karl von Rohr, President of Deutsche Bank and Chairman of the Supervisory Board of DWS. "Under his leadership, DWS has expanded its market position and performed well in a recently challenging environment. We would like to thank him for this as well as for his contribution in previous positions, including in the private banking business in Germany."

Von Rohr continued: “With Stefan Hoops, we are able to appoint a proven capital markets specialist to lead DWS, who brings the necessary strategic foresight, expertise in digitalisation and leadership skills for this role."

Hoops’ previous responsibility for the Corporate Bank will be assumed by David Lynne, currently Head of the Corporate Bank in Asia Pacific and responsible for the Fixed Income and Currencies business in the region. As part of the move, Lynne also becomes a member of the Group Management Committee. Being from Britain, he joined Deutsche Bank in 1995 and has held senior positions in the capital markets business in Singapore before focusing on his Corporate Bank role in the past few years. He will be supported in his new position by Jan-Philipp Gillmann, currently Head of Corporate Bank EMEA (ex UK and Germany), who will assume additional responsibility for the Corporate Bank Germany. Furthermore, he will take on global responsibility for client coverage across the Corporate Bank.

Fabrizio Campelli, responsible for the Corporate Bank and the Investment Bank on the Management Board, said: “I would like to thank Stefan Hoops for his commitment and successful work. The Corporate Bank will continue its successful course under the leadership of David Lynne, not least in the growth region of Asia. At the same time we will strengthen our home market positioning: Jan-Philipp Gillmann will closely link our German business with our global client coverage from Frankfurt.”

Christian Sewing, Deutsche Bank’s CEO, added: “I also want to thank Asoka for his impressive work and performance for DWS and Deutsche Bank. Asset Management is and remains an important part of our business model. We are convinced that DWS will continue its success story under Stefan Hoops’ leadership. In recent years, he has taken important strategic decisions in the Corporate Bank. The division is well positioned in a difficult market environment and well on track to achieve its targets. I am convinced that we will continue on this path and grow further in coming years under David Lynne’s leadership, both in Germany and globally."

About Deutsche Bank

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending,
asset and wealth management products and services as well as focused investment banking to
private individuals, small and medium-sized companies, corporations, governments and
institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots
and a global network.

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 11 March 2022 under the heading
“Risk Factors”. Copies of this document are readily available upon request or can be downloaded

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