May 25, 2005

Deutsche Bank appoints Bart A. Grenier as Head of Deutsche Asset Management's Speciality Fixed Income business

Deutsche Bank today announced the appointment of Bart A. Grenier to the new position of Head of Speciality Fixed Income within Deutsche Asset Management (DeAM). Grenier, who starts on June 13 2005 in New York, joins from Fidelity Management & Research Company. He will report to Kevin Parker, Global Head of Deutsche Asset Management, and will become a member of DeAM's Operating Committee. 

Grenier joins DeAM after almost 15 years at Fidelity. Most recently he was Senior Vice President responsible for investment groups with combined assets under management of more than $500 billion across a variety of asset classes. These included the Fixed Income & Money Market Division, the High Income Division, the Asset Allocation Group, the Value Equity Group, the Growth & Income Group, as well as the Strategic Advisors Group.

"Bart's appointment reflects DeAM's commitment to the US market and our intention to make DeAM a market-leading business," said Parker. "Bart has tremendous career experience and a great investment management track record. He will also add significant depth to our global management team."

Grenier has a B.S. in Chemical Engineering from California State Polytechnic University and a M.S. in Management from Rensselaer Polytechnic Institute.

For further information, please call:

Deutsche Bank

Jezz Farr    +44 20 7545 7506

Rohini Pragasam   +1 212 250 4516

Kristin Silva    +61 2 9249 9568


About Deutsche Bank

With Euro 901 billion in assets and 64,500 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 business of Deutsche Bank AG, with AUM of US$744 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.