June 17, 2005

Deutsche Bank starts domestic custody business in Turkey

Deutsche Bank today announces the addition of Turkey to its network of domestic custody offices. Since obtaining a full commercial banking licence in 2004, Deutsche Bank A.S., Istanbul, has now extended its range of products to cover all transaction banking services including custody.

As a result of this latest development, Domestic Custody Services (DCS) at Deutsche Bank now provides custody in 26 markets covering Europe, Asia, and the Americas. DCS Turkey will be headed by Hakan Ulutas, who has extensive experience in the industry and who will report to Andrew Carter, the Regional Head of DCS for Eastern and South Eastern Europe.

Committed to offering flexible and tailored solutions, DCS Turkey will provide a comprehensive package including custody, clearing and settlement to service the diverse needs of global custodians, international broker dealers, corporates and investment funds.

The launch of the Turkish domestic custody business coincides with the complete acquisition of Bender Menkul Degerler Anonim Sirketi ("Bender Securities") earlier this year. Therefore Deutsche Bank is in a position to offer unrivalled trading possibilities to its clients and has the potential to arrange full execution and settlement in the Turkish market.

Commenting on the launch, Roger Harrold, Global Head of DCS said, "This not only reinforces Deutsche Bank's commitment to the custody industry, but clearly shows that we are looking to extend our products and services to those markets where there is client demand. Furthermore, in line with our goal of offering clients a full range of transaction banking services, Domestic Custody Services will complement other product areas such as cash management and trade finance". 


For further information, please call:

Deutsche Bank

Dr. Ronald Weichert +49 69 910 38664
Press Office



About Deutsche Bank

With Euro 901 billion in assets and 64,500 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. 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 ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.

Domestic Custody Services, part of Trust & Securities Services in Deutsche Bank's Global Transaction Banking business, provides direct and multi-direct custody services in 26 domestic securities markets worldwide