November 3, 2008

Peter Hornick joins Deutsche Bank as Head of Credit Sales

Deutsche Bank Securities Inc. today announced that Peter Hornick has joined its Institutional Client Group (ICG) within the Global Markets division as a Managing Director and Head of Credit Sales for North America. Hornick is based in New York and oversees distressed debt, convertible bond, high grade, high yield and structured product sales groups. Hornick joins from Lehman Brothers and reports to Lou Jaffe, Managing Director and Head of ICG Debt Sales for the Americas.

Hornick joins the Bank after six years at Lehman Brothers where he was most recently Global Head of the CDO group, overseeing trading, sales and research. Prior to that, he was Global Head of Levered Credit Sales. Before joining Lehman, Hornick was a derivatives trader at Merrill Lynch in New York and London.

“Peter has unique experience in derivatives, structured products and fundamental credit, which will provide our clients with a valuable perspective during these challenging times,” said Jaffe. “He is an enormous asset to our world-class salesforce, and brings a long history with some of the largest and most successful institutional investors in the US.”

Hornick earned a BS from Georgetown University and an MBA from the University of Michigan.

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.