November 11, 2009

Michael Cohrs appointed Adjunct Professor at Guanghua School of Management, Peking University, China

Michael Cohrs, Head of Global Banking and Member of the Management Board, Deutsche Bank, has been appointed Adjunct Professor at Guanghua School of Management, Peking University, China. The appointment follows a formal invitation from Dean Zhang Weiying, and will see Mr. Cohrs regularly address the school on topics of business and international finance during his regular visits to China.

Marking the occasion, Mr. Cohrs addressed an assembly of over 100 MBA students and faculty in a keynote presentation titled “Is the Global Financial Crisis Coming to an End?” Assessing the implications and response to the crisis by international governments and financial institutions, the presentation represents the second major lecture on the financial crisis that Mr. Cohrs has given at Guanghua School of Management since April 2009.

Acknowledging that financial markets have recovered and stabilised in recent months, Mr. Cohrs said that the global economy still remained fragile and that repercussions from the crisis would continue to be felt for many years to come. He said that the crisis had impacted a large number of stakeholders - including banks and insurance companies, central banks, regulators and consumers – all of which had learned profound lessons and in certain cases already started to implement reforms.

Of future reforms, Mr. Cohrs noted that the need to strengthen discipline regarding risk, capital, and liquidity management, as well as to apply appropriate compensation models were amongst the most important, and needed to be applied in a globally consistent manner. Of Deutsche Bank’s own experience, Mr. Cohrs said: “Deutsche Bank’s policy of having sound sources of capital and adequate funding even in the fourth quarter of 2008, has set us apart. It has been invaluable throughout the current crisis.”

Discussing China’s increasing regional and international leadership role, Mr. Cohrs said, “Through the timely and appropriate use of financial stimulus, China has played a vital and stabilising role during the crisis.” Drawing reference to strong GDP growth forecasts, the growing influence of Chinese banks within the global industry, and other favourable underlying factors, Mr. Cohrs said he remained very optimistic about the country’s future.

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