January 14, 2008

Deutsche Bank Private Wealth Management announces Private Bank hires

Deutsche Bank Private Wealth Management (PWM) today announced that Ed Lok has joined the firm’s US Private Bank as a Managing Director and Private Banker and will work with high-net-worth individuals and families in the San Francisco Bay Area. He will report to Mark Pittsey, a Managing Director and San Francisco Office Director. In addition, Jonathan Herpel and Deirdre Judge have joined the firm as Directors and Investment Advisors responsible for constructing and monitoring client investment portfolios and tailoring asset allocations for PWM's clients on the West Coast. Herpel will be based in San Francisco and Judge will be based in Los Angeles. They will report to John Alexander, a Managing Director and Head of Investment Advisory.

Lok has more than 20 years of financial services experience and joins the firm from Citigroup Private Bank where he was a Managing Director and Private Banker. Prior to joining Citi's Private Bank, he worked at Citigroup Corporate and Investment Bank in Hong Kong where he was an Investment and Corporate Banker. He earned a BBA in banking and finance from the University of Wisconsin and an MBA in finance and international business from the University of San Francisco.

Herpel joins the firm from Citigroup Asset Management in Geneva, Switzerland, where he was a Director and Senior Portfolio Manager. Prior to that, he was the Director of Investment Services at Citigroup Private Bank in Chicago. Before joining Citigroup, he spent six years at Bank of America in a number of different roles including Vice President in the Client Strategies Group and Portfolio Manager in the Investment Advisors Group. He earned a BA in economics from Northwestern University and received the CFA Institute Chartered Financial Analyst designation.

Judge joins the firm from Citigroup where she was most recently a Director in the Global Hedge Strategies Group. In that role, she provided customized hedge fund portfolios for the Private Bank and Smith Barney's ultra-high-net-worth clients. Prior to joining Citigroup in 1993, she was an Investment Counselor at Fleet Asset Management in Stamford, CT. Deirdre earned a BS in finance from St. John's University and received the CFA Institute Chartered Financial Analyst designation.

“We are extremely pleased to welcome Ed, Jonathan and Deirdre to our team,” said Thomas Bowers, Head, Private Wealth Management. “They will be a tremendous asset to our organization as we further enhance our position as a leading integrated Private Bank.”

For further information, please call:

Scott Helfman               
+1 212-250-5602
Deutsche Bank, Media Relations

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 77,920 employees in 75 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 and creates exceptional value for its shareholders and people.

Deutsche Bank Private Wealth Management

Deutsche Bank Private Wealth Management has been serving the interests of wealthy individuals, families and select institutions for more than a century. With offices across the U.S., Deutsche Bank's Private Wealth Management business division provides a variety of customized solutions to private clients worldwide including traditional and alternative investments, risk management strategies, lending, trust and estate services, wealth transfer planning, family office services, custody and family and philanthropy advisory. Private Wealth Management includes the U.S. Private Bank and Deutsche Bank Alex. Brown, the private client services division of Deutsche Bank Securities Inc., the investment banking and securities arm of Deutsche Bank AG in the United States and a member of NYSE, FINRA and SIPC.