November 26, 2009

Change at the top of Deutsche Bank Research

Thomas Mayer succeeds Norbert Walter as Chief Economist

With effect from January 1, 2010, Dr. Thomas Mayer (55) becomes head of Deutsche Bank Research and will become the new Chief Economist of Deutsche Bank. He succeeds Professor Dr. Norbert Walter (65), who will retire from the bank at the end of the year.

Thomas Mayer is presently Chief European Economist in Deutsche Bank's Global Markets Division. Following time with the Kiel Institute for the World Economy and the International Monetary Fund in Washington, Mayer first worked as an economist with Salomon Brothers and Goldman Sachs before joining Deutsche Bank in 2002.

Professor Walter joined Deutsche Bank in 1987 and expanded the Economics Department into Deutsche Bank Research. As the bank's public representative at a large number of national and international organizations and institutions, his forecasts and views have often had a strong influence on prevalent opinion.

On the occasion of the change at the top of Deutsche Bank Research, Dr. Josef Ackermann, Chairman of Deutsche Bank's Management Board, said: "Professor Walter has been a highly sought-after and respected discussion partner at Deutsche Bank and beyond that in the business community and society worldwide. We thank sincerely Norbert Walter for his many years of commitment to our bank. We wish Thomas Mayer, his successor, much success in his new position. We are sure that he will master the challenges with his soundly-based knowledge and capabilities and lead DB Research successfully into the future."

For further information, please call:

Deutsche Bank

Press and Media Relations

Dr. Ronald Weichert
Phone: +49 69 910 38664

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