July 3, 2008

Deutsche Bank hires Bernardo Parnes as Chief Country Officer in Brazil

Deutsche Bank today announced that Bernardo Parnes will join the firm as of August as a Managing Director and Chief Country Officer for Deutsche Bank Brazil (Deutsche Bank S.A. – Banco Alemão) and a member of the Deutsche Bank Americas Executive Committee. Parnes will be based in São Paulo and report to Seth Waugh, CEO of Deutsche Bank Americas, and Dalinc Ariburnu, Global Head of Emerging Markets in Deutsche Bank’s Global Markets division.

Parnes has more than 23 years of experience in the financial industry, most recently as CEO of Banco Bradesco BBI S.A. Prior to that he was CEO of JSI Investimentos Ltda, part of Safra Group, and worked for14 years at Merrill Lynch where he was President of Banco Merrill Lynch S.A. and Country Head for Brazil. He also worked for seven years at Citigroup in Brazil.

“Bernardo’s vast expertise in both Brazilian and international finance makes him an excellent addition to Deutsche Bank’s global platform,” said Waugh. “He is ideally suited to lead our efforts to bring our global clients to Brazil, and Brazil to our global clients.”

“Brazil is a key growth market for Deutsche Bank and an important part of our Emerging Markets business,” said Ariburnu. “Bernardo’s experience, which spans a wide range of asset classes and market cycles, will be invaluable to the Bank and its clients as we continue to build on our momentum in Brazil.”

Parnes earned a BA in Business Administration from Fundação Armando Álvares Penteado, a BA
in Law from Universidade de São Paulo, and a Specialization in Economics and Finance from Fundação Getúlio Vargas.

For further information, please call:

Ted Meyer
+1 212-250-7253

Francine Wey
+55 11 2113-5684

Deutsche Bank Media Relations

About Deutsche Bank

Deutsche Bank <NYSE: DB> 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 78,275 employees in 76 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.