April 27, 2009

Deutsche Bank: Contract of Dr. Josef Ackermann to be extended

At its meeting today, the Supervisory Board of Deutsche Bank unanimously decided to request that Dr. Josef Ackermann should extend his contract by three years, until the Annual General Meeting of 2013.

Dr. Ackermann has agreed to this request.  The formal ratification of this decision will take place at the Supervisory Board’s meeting of 28 July 2009.

Dr Clemens Boersig, Chairman of the Supervisory Board, said: “Dr. Ackermann has given Deutsche Bank strong strategic positioning and steered the Bank safely through the crisis.  Our performance in the first quarter 2009 is impressive evidence of this.”

He added: “This decision reflects the Supervisory Board’s esteem for and appreciation of Dr. Ackermann.  It also secures leadership continuity for the bank.  I am delighted that Dr. Ackermann is prepared to continue to lead the bank through the highly challenging years which lie ahead.  I look forward to continuing to work with him.”

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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 80,456 employees in 72 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.