July 6, 2005

Ramon Bauza joins Deutsche Bank Foreign Exchange Sales in New York

Deutsche Bank today announced that Ramon Bauza has joined as a Managing Director and Head of Foreign Exchange Sales to U.S. Corporates within its Global Markets division. Based in New York, Bauza will oversee Debt Capital Markets Foreign Exchange Sales responsible for coverage and product distribution to North American based companies . He joins the firm from Morgan Stanley and reports to Jason Shell, who was recently appointed Head of Foreign Exchange Sales and Trading for the Americas.

"We are extremely pleased to have someone with Ramon's expertise leading our New York sales effort. He has a proven track record in the industry and an outstanding ability to work with clients to customize solutions for the issues they face," said Shell. "His experience and reputation are enormous assets to our industry-leading foreign exchange franchise."

Bauza was Head of Corporate Sales at Morgan Stanley. Prior to that, he was Co-head of Foreign Exchange Sales at Lehman Brothers and a Senior Foreign Exchange Salesperson at Bank of Boston. He holds a BA from Boston College.

In April, Deutsche Bank was ranked #1 in Euromoney's Annual Global Foreign Exchange Survey with a market share of 16.7%, the largest ever recorded by a winner of this survey.


For further information, please call:

Michele Agostinho
Media Relations


About Deutsche Bank

With Euro 901 billion in assets and 64,500 employees, Deutsche Bank offers unparalleled financial services in 74 countries throughout the world. 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 ranks among the global leaders in corporate banking and securities, transaction banking, asset management, and private wealth management, and has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.