May 12, 2006

Deutsche Bank appoints co-heads of global banking Russia

Deutsche Bank today announced that Ilya Sherbovich and Nicholas Jordan have been appointed co-heads of Global Banking Russia, reporting to David Fass, Head of Global Banking, Europe.

Jordan will be based in London and will continue his work as Vice Chairman of Global Banking Europe, Sherbovich, who will be based in Moscow, will also act as President of Deutsche UFG.

Jordan and Sherbovich will be responsible for the corporate coverage and investment banking business of Deutsche Bank in Russia. They will lead regional teams in providing strategic counsel and transaction execution to clients across a broad range of sectors and products.

Sherbovich has been with UFG for over 10 years, where he acted as General Director of UFG ZAO and later as President of UFG Group and Head of Investment Banking, developing a leading financial advisory services practice.

During his career, Sherbovich has been involved in a number of Russia’s most notable M&A transactions, including advising Gazprom on the sale of its 10.74% stake to Rosneftegaz and it’s US$13bn acquisition of Sibneft; arranging a buyer consortium to acquire the 34.5% of Magnitogorsk Iron & Steel Works through privatization and direct purchase from Mechel Steel Group; advising The Russian Federal Property Fund on its privatization of 7,59% of Lukoil and advising juice major producer Multon on the sale of its assets to Coca-Cola, in the largest FMCG deal in Russia to date.

Sherbovich is also credited with establishing one of Russia’s most advanced ECM teams, participating in a number of initial public offerings for Russian companies at both local and Western bourses. These include the IPOs of telecommunications company Comstar-UTS and Russia’s largest consumer-oriented private sector company AFK Sistema; and the IPOs of supermarket giant The Seventh Continent, and juice producer Lebedyansky.
Jordan has been with Deutsche Bank since 1996. A graduate of Boston University Political Science he spent 10 years at Chemical Bank NY before managing Deutsche Morgan Grenfell's operations in Russia from 1997 to 1999. During this time, Morgan Grenfell Securities was one of the Russia’s top 5 equity brokerages and a leading participant in the local currency and fixed income market.

Jordan has broad experience in bringing Russian companies to the international capital markets as well as advising on some of Russia's largest M&A transactions.
“Ilya and Nicholas have earned reputations as leading investment bankers in the Russian market, and they will be a major asset to the Bank as we continue to develop Investment Banking services and strengthen our presence in the market,” - said Charles Ryan, Chief Country Officer and Chief Executive Officer of Deutsche Bank Group in Russia. “The full integration of management and coverage business in Russia will provide a unified team and unparalleled services for clients in the Russian market”.

For further information, please call:

Deutsche Bank
Olga Podoinitsyna Communications and Marketing
Tel: (+7 495) 797 5303

About Deutsche Bank
Deutsche Bank 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 Euro 992 billion in assets and 63,427 employees, Deutsche Bank offers unparalleled financial services in 73 countries throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

Deutsche Bank Ltd. (Deutsche Bank Moscow) was established in April 1998. The Bank is a wholly-owned subsidiary of Deutsche Bank AG. Deutsche Bank Moscow has become one of the largest foreign banks in Russia. Deutsche Bank Moscow provides local and international, corporate and private clients with a broad range of financial services, comprising corporate finance and advisory, sales, trading, transaction banking as well as private wealth management and asset management services. The bank includes the largest Russian and multinational companies among its client base.
Deutsche Bank in Russia


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