February 3, 2006

Deutsche Bank appoints Chief Operating Officer, Global Banking Europe

Deutsche Bank today announced the appointment of Elaine Sullivan as Chief Operating Officer, Global Banking Europe. Sullivan will report to David Fass, Head of Global Banking Europe, and will work closely with Bruce Rigal, Global Chief Operating Officer, Global Banking. She will begin her new role on 6 February and be based in London.

Sullivan joins from IBM Corporation where she has spent the last six years. Her roles at IBMT included Global General Manager, Financial Markets, responsible for all IBM'Ts business with major Capital and Financial markets companies including all Investment Banks, Brokerages, Fund Managers and Exchanges. Most recently, Sullivan was Managing Director in the financial services practice driving IBM'Ts global relationship with a major financial services client.

Prior to joining IBM, Sullivan spent three years at Morgan Stanley culminating in her role as Executive Director, E-business Technology in New York, responsible for Morgan Stanley'Ts global E-Business activity.

Commenting on the appointment, David Fass, Head of Global Banking Europe said; "We are delighted to have someone of Elaine's calibre joining our team in such an important role. Elaine brings with her over 15 years experience in sales, marketing and business development for multinational corporates. She will be an extremely valuable addition to our business and will work closely with our teams as we continue to grow our Global Banking franchise across Europe."

"Deutsche Bank has the highest level of commitment to Global Banking. In welcoming Elaine to our team, we are able to significantly develop our positioning in this area."

For further information, please call:

Victoria Garrod  (+44 20) 7547 1605
Press & Media Relations

About Deutsche Bank

With Euro 993 billion in assets and 63,427 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.