February 3, 2009

Deutsche Bank significantly expands Global Financial Institutions Coverage

12 New Hires from Bank of America Merrill Lynch Will Substantially Increase FIG Coverage Capabilities Globally

Deutsche Bank today announced 12 new hires in the firm’s Financial Institutions Group in its Global Banking division. The additions comprise six Managing Directors as well as a number of Directors, Vice Presidents and Associates, focused on banks and asset management client coverage. The new hires will be located in New York, London and Hong Kong.

The four senior hires are Eric Heaton, David Heaton, Richard Slimmon and Richard Gibb. Eric and David will join as Managing Directors in New York, while Richard Slimmon and Richard Gibb will join as Managing Directors in London and Hong Kong, respectively.

Also in New York, Seth Heaton and Venkat Badinehal will join as Managing Directors along with Jason Braunstein, who will join as a Director.

The team will report to Jorge Calderon, Co-Head of Global Corporate Finance Coverage and Global Head of the Financial Institutions Group at Deutsche Bank.  

Eric Heaton most recently has served as the Treasurer for Merrill Lynch. Prior to that role, he was Co-Head of Americas Financial Institutions, specializing in US depository institutions. David Heaton was recently the Head of Global Asset Management Investment Banking at Merrill Lynch.  

At Merrill Lynch, Richard Slimmon was a senior banker in the European Financial Institutions Investment Banking group. Richard Gibb was the Head of Financial Institutions, Asia Pacific and Australia in addition to serving as Head of the Financial Sponsors Group for Asia Pacific at Merrill Lynch.

Furthermore, Seth Heaton, Venkat Badinehal and Jason Braunstein all served in FIG Investment Banking at Merrill Lynch where they held coverage responsibility for US depository institutions, including regional and super-regional banks as well as US affiliates of European banks.  

“These appointments are a confirmation of Deutsche Bank’s commitment to the future of its Financial Institutions business, where we are certain to see continued growth in coming years,” said Michael Cohrs, Head of Global Banking at Deutsche Bank.

“These individuals bring tremendous experience and leadership to our FIG platform,” said Jorge Calderon, Co-Head of Global Corporate Finance Coverage and Global Head of the Financial Institutions Group at Deutsche Bank. “The team comprises one of the most seasoned Depository Institutions coverage groups in the marketplace.”

According to Dealogic, the Financial Institutions sector was one of the busiest in global corporate finance in 2008, accounting for 27% of fees versus 21% in 2007.

For further information, please call:

John Gallagher, New York               

Oonagh Baerveldt, London               

Mike West, Hong Kong               

Jason Collins, Singapore               

Media Relations, Deutsche Bank

About 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 81,308 employees in 75 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank Securities Inc., member NYSE, FINRA and SIPC, is the investment banking and securities arm of Deutsche Bank AG in the United States.