February 21, 2008

Deutsche Securities appoints David Shrenzel as Head of Global Banking for Japan

Deutsche Securities Inc. (DSI), today announced the appointment of David Shrenzel as Head of Global Banking, Japan, effective from February 1, 2008. Mr. Shrenzel assumes the post from David Hatt, President & CEO of DSI, who has held the post on an interim basis.

Mr. Shrenzel remains a Co-Head of the Global Capital Markets division at DSI with Yuji Nomoto, a role Mr. Shrenzel has held since April 2007, but is succeeded by Aaron MacDougall as Head of Global Credit Trading at DSI (as of February 1, 2008), a position Mr. Shrenzel has held since September 2002.

Mr. Shrenzel originally joined Deutsche Bank Group in March 2000 as Head of the Global ABS Credit Products Group in New York. Prior to that, Mr. Shrenzel spent seven years with the asset securitisation business at Credit Suisse First Boston (now Credit Suisse).

Mr. MacDougall joined Deutsche Bank Group in June 2000 as a senior trader in the Global Credit Trading business and, prior to this appointment, was the head trader across DSI’s flow, structured and exotic corporate credit trading and convertible bond trading businesses. Before he joined the Group, Mr. MacDougall worked in fixed income derivatives, credit trading and structuring at Bankers Trust and at Morgan Stanley.
David Hatt said, “The appointment of David and Aaron demonstrates our commitment to the expansion of our business in Japan, a key strategic market for Deutsche Bank Group. David’s appointment allows us to strengthen our client relationships and to align our financing and advisory operations to fully service the strategic business and financial needs of our clients. In addition, Aaron’s long experience in credit trading products and structuring is invaluable as Head of Global Credit Trading. These appointments further enhance our ability to deliver high value-added products and services to our clients.”

For further information, please call:

Deutsche Securities Inc.
Seiko Adachi / Aston Bridgman (81 3) 5156 7705/7709
Communications, Region Japan

About 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 78,291 employees in 76 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.


In Japan, Deutsche Bank Group is engaged primarily in investment banking for corporate and institutional clients, corporate banking and asset management. The Group employs about 1,350 people.