May 30, 2007

Deutsche Bank announces Co-Heads of Global Insurance Asset Management

Randy Brown to Join as a Managing Director to Co-Head GIAM with Robert Goodman

Deutsche Bank’s Asset Management division (DeAM) today announced that Randy Brown and Robert Goodman will become Co-Heads of Global Insurance Asset Management (GIAM). Brown and Goodman will report to Kevin Parker, Global Head of Deutsche Asset Management and a Member of the Deutsche Bank Group Executive Committee, and will also join DeAM’s Global Operating Committee. Brown will be based in New York, and Goodman is based in Zurich.

Brown will join DeAM on Aug. 15 from BlackRock, where he is Co-Head of Portfolio Management for the Financial Institutions Group. At DeAM, he will be a Managing Director responsible for GIAM’s global investment platform, as well as trading, technology and other operational functions.

Goodman, a Managing Director and Global Head of Insurance Relationships, will continue in that role and maintain overall responsibility for distribution and client relationship management.

“We are extremely pleased to add a world-class talent like Randy to our team, and I am confident that under Randy and Robert’s leadership the GIAM business will continue to build on its top-ranked position,” said Parker. “Our deep specialization in the insurance sector, combined with our full range of traditional and alternative investment capabilities, puts us in a strong position to service the growing demand by insurers for asset management outsourcing solutions.”

In his prior role, Brown was jointly responsible for BlackRock’s investing on behalf of insurance companies, managing $120 billion of fixed income assets for a client base that included more than 100 insurance companies. In addition to his investment responsibilities across a wide range of fixed income sectors, he was heavily involved in asset allocation, trading, technology and strategic problem-solving for insurance clients. Prior to BlackRock, Brown was a Principal in Mortgage Trading at Morgan Stanley where he ran the trading desk. He earned a BS and MS degree in Electrical Engineering and an MBA, all from Cornell University. He began his career as a mortgage-backed securities trader at Salomon Brothers.

Since joining DeAM in January 2006, Goodman has led GIAM's new business development and
client service teams. Prior to DeAM, he was Global Head of Insurance Investment Banking at NM Rothschild & Sons and Lazard. Goodman also was a partner at McKinsey & Co., where he was Co-Head of the European Insurance Practice. A graduate of Swarthmore College, he earned an MA from Harvard University and a JD from Harvard Law School, where he was an editor of the Harvard Law Review.

Named the world’s largest third-party manager of insurance portfolios in Insurance Asset Manager’s Mid-Year 2006 Survey, DeAM has EUR 110 billion in insurance assets under management worldwide as of 31 March 2007. GIAM’s dedicated insurance investment professionals are located in North America, Europe and Asia-Pacific and invest across a full range of traditional and alternative strategies. The GIAM team has won commitments for approximately EUR 10.6 billion AUM in insurance business during the first four months of 2007.

For further information, please call:

Deutsche Bank
Mayura Hooper +1 (212) 250-5536
Media Relations

About Deutsche Bank

Deutsche Bank <NYSE: DB> 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 73,114 employees in 73 countries, 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 Securities Inc., member NYSE, NASD and SIPC, is the investment banking and securities arm of Deutsche Bank AG in the United States. 

About Deutsche Asset Management

With approximately EUR 553.01 billion in assets under management globally (as of 3/31/07), Deutsche Bank’s Asset Management division 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. The Asset Management division provides a broad range of investment management products across the risk/return spectrum.