August 9, 2006

Deutsche Asset Management appoints Charles B. Leitner III Global Head of Alternative Investments

Deutsche Asset Management (DeAM) today announced that Charles B. Leitner III has been appointed Global Head of Alternative Investments, effective September 1, 2006.  In this newly created role, Leitner will be responsible for all of DeAM's alternative asset classes: real estate, infrastructure, and hedge funds.

Leitner, who is based in New York, is currently Global Head of the RREEF real estate and infrastructure business.  As Global Head of Alternative Investments, he will also take charge of Topiary Fund Management (the funds of hedge funds business) and DB Advisors Capital Management (the single manager/multi-strategy hedge fund business).  Leitner continues to report to Kevin Parker, Global Head of DeAM and a Member of the Deutsche Bank Group Executive Committee.

"Bringing all of DeAM's alternative asset classes under Chuck’s leadership will strengthen our ability to deliver innovative investment solutions to clients globally," said Parker.

Leitner will take over responsibility for Topiary Fund Management and DB Advisors Capital Management from Richard Goldsmith, who will retire from Deutsche Bank.


For further information, please call:

Elaine Bartleet  +44(20)754-54907
Media Relations

Mayura Hooper +1-212-250-5536
Media Relations


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 Euro 1,058 billion in assets and 65,435 employees, Deutsche Bank offers unparalleled financial services in 73 countries 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.

Deutsche Asset Management

With approximately US$658 billion in assets under management globally (as of 3/31/06), Deutsche Asset Management 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.  Deutsche Asset Management is geographically divided into three regions - the Americas, Europe and Asia Pacific, providing a broad range of investment management products across the risk/return spectrum.