May 16, 2008

Deutsche Bank integrates its shipping operations

  • Deutsche Shipping takes over activities of Schiffshypothekenbank zu Lübeck AG
  • Stronger presence in growth markets

Schiffshypothekenbank zu Lübeck AG (SHL) was merged with Deutsche Bank AG (Deutsche Bank) on May 15, 2008. Under the new name of Deutsche Shipping, SHL’s activities have now been integrated with the global ship financing operations of Deutsche Bank. Deutsche Shipping will assume all business activities of SHL which, until recently, was a wholly owned subsidiary of Deutsche Bank.

The Deutsche Bank brand is well established and highly respected on shipping markets around the world. In bringing these operations together under the new name of Deutsche Shipping, Deutsche Bank is focusing its strengths and capabilities for maritime SMEs and international shipowners. The activities of Deutsche Shipping will have an even broader global scope in future. Besides operating in traditional markets in Germany and Scandinavia, Deutsche Shipping is set to expand its services to shipping clients in Southern European and Asian growth markets. “Underpinned by our success to date, Deutsche Shipping will continue to work hand in hand with its clients to further enhance its commitment and excellent market position in the shipping industry,“ reports Ralf Bedranowsky, Global Head of Deutsche Shipping.

Ralf Bedranowsky (49) and Annemarie Ehrhardt will jointly head Deutsche Bank’s business activities in the shipping sector. Newly appointed to Deutsche Shipping’s management team are Dr. Karsten Wetwitschka (45) whose mandate covers primarily the Scandinavian countries, and Singapore-based Felix Ulbricht (41) who is in charge of expanding Asian market activities. Torsten Wagner (65) and Tjark H. Woydt (65) will be retiring as SHL Management Board members and Managing Directors of Deutsche Bank’s ship financing operations, but will continue to serve Deutsche Shipping as advisors. Bedranowsky and Ehrhardt stand for continuity and a strategy of international expansion of Deutsche Bank’s successful financial services for the shipping industry. Deutsche Bank thanks Torsten Wagner and Tjark H. Woydt for their long-standing commitment and excellent work as Managing Directors, being essential for the success of the bank’s business operations in the shipping industry.

Torsten Wagner joined Schiffshypothekenbank zu Lübeck in 1967 and entered Deutsche Bank in 1989 with SHL´s takeover. Wagner has been a member of the SHL Management Board since 1993.

Tjark H. Woydt has been with Deutsche Bank since 1986, initially as Management Board member of former subsidiary European Asian Bank. After holding various managing director positions with responsibility for business activities in Spain, Portugal and later Germany, Woydt joined the Management Board of SHL in 1996.


Further information is also available from:

Deutsche Bank
Press Department

Anke Veil
Phone: +49 69 910 -42846

Michael Lermer
Phone: +49 69 910 -31325

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 78,275 employees in 76 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.