November 12, 2008

Mike Gelhard joins Deutsche Bank as Global Co-Head of Emerging Markets Corporate Credit and Special Situations

Deutsche Bank today announced that Mike Gelhard has joined the bank as a Managing Director and Global Co-Head of Emerging Markets Corporate Credit and Special Situations. Gelhard is based in New York and will be responsible for the origination, risk management and distribution of corporate credit throughout Latin America and Eastern Europe, the Middle East and Africa. Gelhard and Global Co-Head Tim Zundel will report globally to Sean Bates, Managing Director and Global Head of Emerging Markets Credit Trading.

Gelhard joins the Bank from UBS where he was Head of High Yield and Distressed Credit Trading for Latin America and Asia. Prior to that, he held positions at UBS and Citibank in Sydney, Australia.

"Deutsche Bank is highly committed to all aspects of the corporate credit business in emerging markets, and Mike's years of experience in the high yield and distressed markets will complement and enhance our team's abilities in these areas. We are very pleased to have Mike onboard,” said Bates.

Gelhard earned a BA from Macquarie University in Australia.

For further information, please call:

Deutsche Bank

Michele Allison
Press & Media Relations

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.