August 20, 2007

Deutsche Bank appoints Simon Grenfell as Head of Commodities, Asia

Deutsche Bank today announced it has appointed Simon Grenfell as a Managing Director and Head of Commodities, Asia. Mr Grenfell started in this new position today and is based in Singapore.

Working within the Global Credit Trading product group, Mr Grenfell will report regionally to Sajid Javid, Head of Global Credit Trading in Asia (ex-Japan) and globally to David Silbert, Global Head of Commodities at Deutsche Bank. He will be responsible for growing Deutsche Bank’s regional commodities platform and expanding the range of products the Bank offers its clients in Asia.

Sajid Javid said, “Simon’s extensive commodities experience, which spans a range of markets and geographies, will be invaluable in directing our Asian commodities platform through its next phase of growth”.

David Silbert said, “Asia is an important region for Deutsche Bank’s global commodities business, as demand for raw materials and agricultural commodities continues to grow. Simon is well-qualified to develop our established business in this key market”.

Mr Grenfell has 15 years’ experience working in a range of commodities markets, including metals, energy and soft commodities. He joins Deutsche Bank from Macquarie Bank in London, where he was an Executive Director and Global Co-Head of the Commodity Markets Division, responsible for the strategic direction and management of Macquarie’s global commodities business.

Prior to this, Mr Grenfell was an Executive Director at Goldman Sachs (J Aron) in London and a Vice President with Morgan Stanley in Singapore. He started his career at Macquarie Bank in Sydney, Australia.

Mr Grenfell holds a Masters in Developmental Finance from the University of London and a Bachelor in Economics from the Australian National University, Canberra.

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 75,140 employees in 75 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.