July 8, 2008

Deutsche Bank launches first subsidiary in Peru

Deutsche Bank has expanded its presence in Latin America with the launch of its first subsidiary in Peru, Deutsche Bank (Perú) S.A. The office, in the capital of Lima, is managed by Jose Miguel Alcalde, Chief Country Officer for Chile and Peru. Having received a banking license last month from Peru’s Superintendent of Banks, Insurance and Pension Funds, Deutsche Bank can now participate in Peru’s foreign exchange, government bond and derivatives markets and raise funds by selling certificates of deposit.

To lead its operations in Lima, Eduardo Sanchez-Carrion, a Director, has been appointed Head of Global Markets Sales for Peru, and Gino Monteferri has joined Deutsche Bank as a Director and Head of Global Markets Trading in Peru. Sanchez-Carrion reports to Alcalde and to Marcelo Blanco and David Hinsley, in their roles as Co-Head Latin American Capital Markets and Institutional Sales. Monteferri reports to Alcalde and Christian Binaghi, Managing Director and Head of Latin America Trading. Monteferri joined Deutsche Bank from Scotiabank Peru, where he was Head of Foreign Exchange and Fixed Income Trading.

Alcalde joined Deutsche Bank in 2000 as Head of Global Markets in Chile and was appointed Chief Country Officer for Chile in 2006. Prior to joining the firm, he served as Chief Financial Officer of Banco Edwards, later part of Banco de Chile, and worked for Citibank for six years.

“Peru is a vibrant and growing economy, and we see a great deal of opportunity here,” said Jose Miguel Alcalde. “As a licensed Peruvian bank we can now offer our international clients a wide variety of options to invest in Peru, and we can continue to build our platform and expand the range of services we can offer in the Andean Region.”

“We are very excited to be in Peru, which we believe has tremendous long-term growth potential,” said Seth Waugh, CEO of Deutsche Bank Americas. "Emerging markets are an important and fast-growing part of Deutsche Bank's global franchise, and this investment in Peru will further extend our reach in Latin America."

In keeping with its commitment to support the communities where it operates, the Deutsche Bank Americas Foundation also announced three grants in Peru. The beneficiaries will be the Museo de Arte Contemporaneo Lima, a contemporary art museum; Agualimpia, an organization that provides water and sanitation infrastructure to poor communities in Peru; and Ciudad Saludable, which enables Peruvians to earn income through environmental stewardship and waste recycling.

For further information, please call:

Deutsche Bank Media Relations

Ted Meyer +1 212-250-7253