October 3, 2005

Deutsche Asset Management appoints new Business Head to build Middle East operation

Deutsche Asset Management (DeAM) today announced the appointment of Daniel Smaller as Head of its Middle East, Northern Africa and Pakistan operations, based in Dubai.

Smaller, who has been with Deutsche Bank for the past seven years, most recently as Head of Global Equity Sales in Asia, will be responsible for setting up a local dedicated asset management presence in the Middle East, selling the group's global products into the region. In the longer term, DeAM plans to develop and distribute a suite of locally managed funds as well.

"The Middle East region is of increasing strategic importance to Deutsche Bank as a market of largely untapped investment management opportunities," said Ed Peter, Head of DeAM for Asia-Pacific and the Middle-East. 

"Daniel's deep knowledge of the Middle East makes him the ideal person to lead DeAM's growth in this exciting region. His appointment demonstrates our commitment to providing clients with the strengths of a global platform, combined with local market expertise," said Ed Peter.

Smaller has over two decades of experience within the financial services sector, in both executive management and investment positions, primarily in, or focused on, Middle East markets.  He holds an MBA from the University of Chicago.

Smaller launched his career in the Middle East, where he worked for Citibank in Bahrain trading Middle East currencies and deposits in 1982.  During his ten year tenure with Citibank, he worked in various roles in the Middle East, London, Zurich and Australia. He also was involved in raising the first Pakistan country fund open to foreign investors.  He then joined Lehman Brothers to manage its emerging market equity group where he continued to promote the Middle Eastern stock markets, before moving to UBS, London, as Head of Sales for Emerging Europe and Middle East Equities.  Smaller joined Deutsche Bank in 1998 as Head of Emerging Market Equity Sales.


For further information, please call:

Deutsche Bank
Stephanie Smart                   
+44 20 754 52908


About Deutsche Bank

With Euro 964 billion in assets and 63,652 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.

Deutsche Asset Management (DeAM) is the global asset management arm of Deutsche Bank AG, with AUM of Euro 573 billion. DeAM is one of the world's leading investment management organizations in terms of the quality and breadth of investment products, asset management expertise and client service. DeAM provides asset management capabilities to a variety of clients worldwide including foundations, non-profit organizations, public and private superannuation funds, high-net-worth individuals and retail investors.