November 14, 2011

Josef Ackermann will no longer be available as a candidate for the Supervisory Board

The Nomination Committee proposes that Paul Achleitner be elected as Chairman of the Supervisory BoardThe Chairman of the Management Board and the Group Executive Committee of Deutsche Bank AG (XETRA: DBKGn.DE/ NYSE: DB), Dr. Josef Ackermann, notified the bank’s Supervisory Board that he will no longer be available as a candidate to transfer onto the Supervisory Board following his departure from the Management Board effective upon the completion of the General Meeting 2012.

Dr. Josef Ackermann: “The extremely challenging conditions on the international financial markets and in the political-regulatory environment demand my full attention as the Chairman of the bank’s Management Board. This does not allow enough scope for the many talks with individual shareholders necessary to implement the original plan.”

With regret, the Supervisory Board notes and respects this decision.

The Nomination Committee recommends that the Supervisory Board propose Dr. Paul Achleitner, currently member of the Board of Management of Allianz S.E., for election to the Supervisory Board at the General Meeting 2012. Furthermore, the Nomination Committee recommends that Dr. Paul Achleitner be elected at the meeting of the Supervisory Board following the General Meeting as Supervisory Board Chairman. Dr. Achleitner will be available for this office, pending the formal approval of the Supervisory Board of Allianz S.E.

Dr. Clemens Börsig, Chairman of the Supervisory Board: “I have highly respected Dr. Achleitner for many years. He has an extraordinary level of expertise and comprehensive experience in the financial industry as well as excellent judgment. This makes him an outstanding successor candidate to chair the Supervisory Board.”

Dr. Josef Ackermann: “Dr. Achleitner is exceptionally knowledgeable about the banking business and the financial markets. His advice has been highly sought after and appreciated by corporate and political leaders in Germany and abroad for many years.”

As previously announced, Dr. Josef Ackermann will be leaving the bank’s Management Board, which he has been the Chairman of since 2002, with effect upon the completion of the General Meeting in May 2012. The process of transition to Jürgen Fitschen and Anshu Jain will be initiated as planned at the beginning of 2012.

For further information, please call:

Deutsche Bank AG 

Press & Media Relations   
Dr. Ronald Weichert
Phone: +49 (0) 69 / 910 38664 

Investor Relations
+49 69 910 35395 (Frankfurt)
+1 212 250 1368 (New York)

About Deutsche Bank

Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. 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 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.  

This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 15 March 2011 under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from
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