June 13, 2006

Deutsche Bank Private Wealth Management announces significant investment in US platform; increased focus on financial sponsor clients

Seven senior private bankers and lending professionals join form JPMorgan Private BankDeutsche Bank today announced the addition of seven senior professionals within its US Private Wealth Management (PWM) business. David Carpenter, Elizabeth Engel, Caroline Holl, Fabio Lindia and Steven Young join the firm from JPMorgan Private Bank to form a new integrated Financial Sponsors Group within US Private Wealth Management. Carpenter and Engel are senior structured lending specialists, and Holl, Lindia and Young are senior private bankers. The team will be based in New York and will report to Patrick Campion, Head of the US Private Bank, and Timothy Schantz, Head, Structured Lending. Additionally, Jan Wysocki joins as a senior private banker in the New York office, reporting to Campion, and Deirdre Cherry will join as Head of Western Region Lending, based in San Francisco, reporting to Schantz.

"Adding senior banking and structured lending specialists to cover the important financial sponsors segment is a vital component of our US strategy to focus client segmentation efforts on primary wealth-creating sectors of the economy," said Thomas Bowers, Head of US Private Wealth Management. "This experienced and talented team will build on Deutsche Bank's deep relationships with the financial sponsor community, expanding our world-class private banking capabilities."

"Financial sponsors have been among Deutsche Bank's most important clients for many years," said Mark Epley, Head of Financial Sponsors coverage for US Global Banking. "We have built an extremely strong Sponsor franchise based on our ideas, our financial strength and our ability to meet and exceed their needs, and we are confident this new PWM team will continue in that tradition."

Within the Financial Sponsors team, Liz Engel joins as a Managing Director and Senior Structured Lending Specialist in the New York office. Engel was most recently the Team Leader and Head of Financial Sponsor Lending at JPMorgan Private Bank. She has more than 30 years of lending experience, including syndicated finance concentrating on large LBO deals. She also worked in the London and Hong Kong offices of Chase. Engel holds a BA from Rosemont College.

Caroline Holl joins as a Managing Director and Private Banker in the New York office. Holl has more than 15 years of experience in the financial services industry and was most recently a Vice President and Private Banker in the Financial Sponsor Group at JPMorgan Private Bank. Prior to joining JPMorgan in 1993, she worked as an analyst at Salomon Brothers in the New York and London offices. She holds a BA from Brown University and an MBA from Harvard Business School.

Steven Young joins as a Managing Director and Private Banker in the New York office. Young spent more than nine years at JPMorgan, where he held a variety of positions in the London and New York offices including most recently as Managing Director and Senior Banker in the Financial Sponsors Group. Previously he was based in Seattle and held positions in Bank of America's Private Banking Division and Seafirst Bank. Young holds a BA from the University of Washington.

David Carpenter joins as a Director and Lending Officer in the New York office. Carpenter was most recently Vice President and Product Manager at JPMorgan Private Bank with responsibility for selling, analyzing and closing credit facilities for clients. Prior to that, he was a Vice President and Senior Relationship Manager at Bank of America's Private Bank, where he spent nearly 10 years. Carpenter holds a BA from Middlebury College and an MBA from Rutgers Graduate School of Business Administration.

Fabio Lindia joins as a Director and Private Banker in the New York office. He was most recently a Vice President in the Financial Sponsors Group at JPMorgan Private Bank. He holds a BS from the Stern School of Business at New York University.

Additionally, Jan Wysocki joins as Managing Director and Private Banker in Deutsche Bank's New York private banking office, working with high net worth individuals and families in the New York area. Wysocki also joins the firm from JPMorgan where she was a Senior Relationship Manager in their Private Bank with over 20 years of experience. Prior to joining JP Morgan Chase in 1998, she was a Financial Consultant and Private Equity Sales Specialist in Merrill Lynch's Private Client Division. Previously, she held positions at Chase Manhattan Private Bank and Citibank Private Bank. Wysocki holds a BS from Cornell University and an MBA in Corporate Finance.

Deirdre Cherry will join as Director and Head of Western Region Lending based in San Francisco. She was most recently a Vice President for lending within JP Morgan Private Bank's US Markets-CEO team. Cherry has more than twenty years of experience in banking and has held many positions within lending with Chase Manhattan. She holds a BS from the University of Santa Clara and an MBA from Pace University.

For further information, please call:

Rohini Pragasam
Media Relations

Mayura Hooper
Media Relations

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 Euro 1,035 billion in assets and 64,103 employees, Deutsche Bank offers unparalleled financial services in 73 countries 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.

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 provide 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. US Private Wealth Management includes the US 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, NASD and SIPC.