February 7, 2011

Deutsche Bank Private Wealth Management appoints Torben Nielsen as Global Head of Cash Products

Deutsche Bank Private Wealth Management is strengthening its cash management offering with the appointment of Torben Nielsen to a newly created role, Global Head of Cash Products. Nielsen, who joined the team last week, will be responsible for overseeing the management of approximately €70 billion in client cash assets.

Kevin Lecocq, Head of Global Investment Solutions at Deutsche Bank Private Wealth Management, said: “With the appointment of Torben, in concert with the recent strengthening of our lending capabilities, Deutsche Bank PWM endeavours to bring a full treasury management solution to our clients. Torben is an excellent addition to our group, bringing more than 25 years of practical experience with him.”

Nielsen will manage all aspects of short term products from CDs and deposits to bonds and money market funds. He will also focus on yield enhancement strategies by leveraging Deutsche Bank’s world class structuring capabilities. Nielsen will be based in London and will report to Kevin Lecocq.

Nielsen joins from Barclays Wealth, where he was Global Head of Balance Sheet Products. Previously he was Chief Financial Officer and management board member of Nordic Investment Bank; Vice President of Treasury in TeleDanmark A/S; and a Treasury Manager in United Steamship Company A/S.

Deutsche Bank Private Wealth Management serves high net worth individuals, families and select institutions worldwide, while also providing leading solutions for family offices and financial intermediaries. Operating in more than 100 locations and advising clients in relation to more than €267 billion in assets under management, it is at the forefront of the global wealth management industry. The business was recently voted Best Private Bank in Europe by Private Banker International.

For further information, please call:

Deutsche Bank AG                                
Press and Media Relations

Alison Taylor                        
Tel. +44 (020) 7545 7790        
E-Mail: alison.taylor@db.com

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 74 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.


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