January 9, 2006

Deutsche Asset Management appoints Robert Goodman as Head of Insurance Relationships

Deutsche Asset Management (DeAM), the global asset management business of Deutsche Bank, today announced the appointment of Robert L. Goodman as Global Head of Insurance Relationships. Based in Frankfurt, Goodman will report to Eric Kirsch, DeAM's New York-based Global Head of Insurance Asset Management.

Goodman will lead the Insurance Asset Management group's new business development and client services teams around the world. He joins from NM Rothschild & Sons where he was Global Head of Insurance Investment Banking. Before that, he was Head of the Financial Institutions Group at Lazard Freres.

As well as senior roles in investment banking, Goodman has been a partner at McKinsey & Co, where he was Co-Head of the European Insurance practice, and a Managing Partner at Andersen Consulting, heading the European Financial Institutions Group. A graduate of Swarthmore College, he earned an MA from Harvard University, his JD from Harvard Law School, and began his career practicing corporate law.

"During his career, Robert has advised the CEOs and CFOs of many of the leading insurance companies in Europe and North America," said Eric Kirsch, Global Head of Insurance Asset Management. "His exceptional knowledge of the insurance industry will greatly enhance the service that we offer our clients."

He added: "To meet demanding investment targets, many insurers are exploring a wider range of asset classes and investment styles, particularly alternative investments. More than ever, insurers need a third-party manager that fully understands their business and can provide bespoke solutions. Robert's appointment reflects our commitment to providing a truly holistic service that recognizes the specific needs of the insurance industry."

DeAM is the world's largest manager of non-affiliated insurance assets with more than US$150 billion of insurance assets under management.

For further information, please call:

Deutsche Bank

Jezz Farr  
+44 20 7545 7506

About Deutsche Bank

With Euro 972 billion in assets and 63,751 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.

About Deutsche Asset Management

Deutsche Asset Management is the global asset management business of Deutsche Bank AG, with AUM of US$666 billion (as of 9/30/05). It 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.