August 2, 2006

Deutsche Bank's Global Insurance Asset Management Business names Heads of Insurance Relationships in Europe and North America

Deutsche Asset Management (DeAm) today announced two senior appointments in its Global Insurance Asset Management Group (GIAM).  Joachim Liese has joined as a Managing Director and Head of European Insurance Relationships based in Frankfurt, and Barton Holl, CFA, has been appointed Managing Director and Head of North American Insurance Relationships in New York. Liese and Holl are responsible for new business development and relationship management with insurers in Europe and North America (including Bermuda), respectively.  Both report to Robert Goodman, Global Head of Insurance Relationships for GIAM.

“These appointments are an important step in the expansion of the Global Insurance Asset Management Group” said Eric Kirsch, Global Head of GIAM. “Joachim and Bart are responsible for achieving our growth objectives in these two key markets while ensuring that our clients continue to receive the highest levels of service and customized investment strategies.  Their collective depth of expertise and years of experience working to enhance insurance companies' value will offer tremendous benefit to our clients' in realizing their financial goals.”

“Growing our business in Europe, North America and Bermuda is a vital part of our business strategy,” said Goodman. “Europe is in the growth stage of insurers outsourcing the asset management capabilities and the region has and continues to be extremely important to achieving our growth goals.  Insurers in North America and Bermuda have led the market for outsourcing their investments and continue to be at the core of our business.”

Liese has nearly 20 years experience in the Financial Services sector as an investment banker to insurers, banks and other financial institutions. He joins Deutsche Asset Management from Fox-Pitt, Kelton, formerly Swiss Re’s specialist investment bank, where he was a Managing Director and Head of Germany, Austria and European Growth Markets and helped establish the European business.  Previously, he was Vice President and Deputy Head of German-speaking financial institutions at Salomon Brothers International.  Liese started his career at Deutsche Bank’s Group Strategy Department.

Holl has over 20 years of experience developing investment management solutions for insurers and financial services companies in North America. He joins the firm from General Re-New England Asset Management (GR-NEAM), where he was a Vice President responsible for new business development.  Prior to joining GR-NEAM, Holl was Director of Sales and Marketing at Zurich Scudder Investments. He was a founding partner of Charter Oak Capital Management, LLC., an insurance investment advisory firm. His previous positions also included affiliations with The Travelers, Wells Fargo and Kidder Peabody.

Liese was educated at the Universities of Munich and Vienna, from where he received a Master's Degree and Ph.D. in Economics. Holl was educated at Babson College, where he earned a BS in Business Administration with a Marketing major.

Deutsche Asset Management is the world’s largest third-party manager of insurance portfolios1, managing € 115 billion globally, as of March 31, 2006 for their clients.  GIAM investment professionals are located in North America, Europe and Asia and invest, across a full range of traditional and alternative strategies. GIAM has dedicated professionals who focus on providing outsourcing solutions to create value for all types of insurance companies through their investment portfolio.  

1 Source: Insurance Asset Manager Survey, August 2005

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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 Euro 1,058 billion in assets and 65,435 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 Asset Management

With approximately US$658 billion in assets under management globally (as of 3/31/06), Deutsche Asset Management is one of the world's leading investment management organizations, not just in size, but in quality and breadth of investment products, performance and client service.  Deutsche Asset Management is geographically divided into three regions - the Americas, Europe and Asia Pacific, providing a broad range of investment management products across the risk/return spectrum.