March 19, 2008

Deutsche Bank appoints Mark Davis as Head of Equity Derivatives Flow, Asia Pacific

Deutsche Bank today announced it has created a centralised Asia Pacific equity derivatives sales structure with Mark Davis appointed Head of Equity Derivatives Flow Asia Pacific, effective immediately. Mr. Davis transfers to Hong Kong from Deutsche Securities Inc in Tokyo, where he was previously Head of Equity Derivative Sales for Japan.

In this new role, Mr. Davis takes overall responsibility for the new regional sales platform; ensuring clients receive an optimised level of service backed by enhanced access to liquidity, streamlined pricing and geographic reach across all exchange-traded, over-the-counter and exotic equity derivatives products in the region.

Noreddine Sebti, Head of Equities Asia at Deutsche Bank, said: “Creating a regional sales platform is in direct response to the growing number of clients who manage their equity derivatives positions on a regional basis, as opposed to a country-specific basis. Mark’s appointment allows us to provide a broader and more efficient level of service that is better aligned to their needs”.

Institutional investors are increasingly managing their derivatives exposure in Asia Pacific on a regional basis as markets become more liquid, investment products and strategies more complex and asset allocations to the region grow. This trend is likely to continue as liquidity in the region’s equity derivatives market deepens, with the Bank for International Settlement’s triennial over-the-counter derivatives survey showing the value of outstanding over-the-counter equity derivative contracts in Asia (ex-Japan) as trebling over the past three years, from USD3 trillion in 2003 to around USD9 trillion as at end June 2007.

The new Asia Pacific sales platform ensures Deutsche Bank can effectively cater to this trend and that clients are serviced accordingly.

Denis MacCarthy, Head of Equity Sales Asia at Deutsche Bank, said: “This deeper and more flexible coverage model will increase service and product efficiencies for our clients, while allowing Mark to accelerate growth of our equity derivatives flow business in Asia Pacific”.

Mr. Davis will report locally to Mr. MacCarthy and to regional management.

Mr. Davis joined Deutsche Bank in 2005 from JP Morgan in Tokyo, where he was Head of Equity Derivative and Hedge Fund Sales. Prior to this, Mr. Davis was Head of Equity Derivatives Sales at JP Morgan in Sydney after spending four years with Citigroup, in both Sydney and London. He started his career with Bankers Trust in Australia, working in fixed income and foreign exchange before moving into equity derivatives in 2000. Mr. Davis holds a Bachelor of Arts in Mathematics and Economics from the University of Sydney.

For further information, please contact:

Mark Bennewith  (65) 6423 8413

About Deutsche Bank

Deutsche Bank 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 78,291 employees in 76 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.