March 22, 2006

Deutsche Bank hires Global Head of Credit Correlation

Deutsche Bank today announced it had appointed Alex Bernand as Global Head of Credit Correlation, reporting jointly to Boaz Weinstein, Head of Credit Trading for North America and Europe, and Wayne Felson, Global Head of Complex Risk. This appointment takes effect as of 1 April 2006.

Bernand brings with him 12 years of credit experience, most recently at Bank of America where he built up their global structured credit business from scratch over the past six years. At Bank of America he was responsible for their correlation books, market making businesses in flow and structured credit, and credit proprietary trading.

For further information, please call:

Deutsche Bank
Stephanie Smart  
(44 20) 7545 2908
Press & Media Relations

About Deutsche Bank

With Euro 993 billion in assets and 63,427 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.