August 7, 2006

Deutsche Bank Global Markets Research strengthens its Investment Advisory Group

Gerald Lucas to join as Senior Investment Advisor

Deutsche Bank Securities Inc. today announced that Gerald Lucas will join its Global Markets Research group as a Director and Senior Investment Advisor in the Investment Advisory Group. Lucas joins from Banc of America Securities, where he was Chief Treasury and Agency Strategist. He will be based in New York and report to Vinay Pande, who joined the firm in May as Chief Investment Advisor for Global Markets Research.  Additionally, Brad Jones has been appointed Senior Investment Advisor. Jones joins the Investment Advisory Group from the Global Markets Research Foreign Exchange Strategy Group. He will continue to be based in London and will also report to Pande.

Led by Pande, the Investment Advisory Group has a broad remit to research investment strategies spanning all products and regions. The team will study market flows and trading patterns to provide insights into investor behavior and report on noteworthy market developments.

Pande joined the bank from Caxton Associates, where he was a senior fund manager specializing in macro trading strategies. Prior to joining Caxton, he held senior proprietary trading positions at JP Morgan, Credit Suisse and Goldman Sachs. Before that, Pande was the Chief Investment Officer at the World Bank in Washington, DC.

Lucas joins Deutsche Bank after three years at Banc of America Securities where as Chief Agency and Treasury Strategist he created the treasury and agency research function and formulated trading strategies for the firm’s sales and trading teams using both relative value financial models and fundamental macro-economic analysis. Prior to that he was at Merrill Lynch for 16 years, most recently as Senior Government and Derivatives Strategist.  Lucas has been named five times to the Institutional Investor All American Fixed Income Research Team for US Government Research.

Jones joined the firm in 2003 from Macquarie University in Sydney, where as a Financial Economist, his research centered around macroeconomic-based approaches to asset pricing.

“Gerry has a deep understanding of the markets and brings valuable perspective to our efforts to tap into the information flow across all asset classes and geographic regions,” said Pande. “Brad has produced excellent theoretical and applied analysis for the Bank’s clients and we are very excited to have him as a member of our Investment Advisory team.  Our combined trading, research and academic backgrounds will enable us to deliver unique alpha-generating investment ideas to our clients.”

Pande earned an MA from the University of Bombay and an MBA from the Wharton School of the University of Pennsylvania. Lucas has a BS from the University of California, Berkeley, and an MBA from the Wharton School of the University of Pennsylvania.  Jones has a First Class Honors degree in Economics from the University of Western Australia, and a PhD in International Finance from Macquarie University.


For further information, please call:

Michele Allison    +1 212 250 4864
Press & Media Relations


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 Euro 1,058 billion in assets and 65,435 employees in 73 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.