Moscow, 10 September 2007 - Deutsche Bank is pleased to announce that, having successfully integrated the businesses it has acquired and the new business lines it has developed in Russia, the Bank will now be introducing a single brand within Deutsche Bank Group in Russia and the CIS.
As was previously announced, once the integration process has been completed, all the divisions of Deutsche Bank Group in Russia will continue to work under the single Deutsche Bank Group brand.
ZAO "United Financial Group" was renamed and now registered as ZAO "Deutsche Securities". Mikhail Yudin remains General Director of ZAO "Deutsche Securities".
The Equity Trading and Equity Sales of Global Markets Department will come under the "Deutsche Securities" brand that has traditionally been used within Deutsche Bank Group for the equity trading sphere in the international markets. Yuri Soloviev, the Bank's First Deputy Chairman of the Board, continues to head Global Markets, Russia & CIS.
Research Department within Global Markets from now on will work under Deutsche Bank brand.
As a result, Deutsche Bank Group in Russia and the CIS now comprises the following organizations:
Deutsche Bank Ltd.
ZAO "Deutsche Securities"
DWS Investment Ltd.
Representative Office of Deutsche Bank AG in Kazakhstan
JSC "DB Securities (Kazakhstan)"
Representative Office of Deutsche Bank AG in Ukraine
In the near future, as a result of strategic development of the Bank's business in real estate, development and infrastructure in Russia and CIS, Deutsche Bank is planning to use one more brand within Deutsche Bank Group in Russia - DB Development.
Charles Ryan, CCO and CEO of Deutsche Bank Group in Russia, said: "We are delighted that the integration process within the Group has resulted in the creation of the best equipped platform in the Russian market for further expanding our business in the region. We are convinced that the single Deutsche Bank brand will serve to further the Bank's continued success in the local markets, with our more than 900-strong team, consisting of the best Russian and international professionals, providing unparalleled services and innovative financial products to our clients."
The Deutsche Bank brand is one of the most recognizable in the international world of finance. Since its foundation in Berlin in 1870, Deutsche Bank has come a long way and now ranks among the global leaders in corporate banking and securities, transaction banking, asset management and private wealth management. It has a significant private and business banking franchise in Germany and other selected countries in Continental Europe. IFR magazine named Deutsche Bank the 'Bank of the Year' in the IFR Review of the Year for 2003 and 2005.
The Deutsche Bank brand has been known in Russia for more than 125 years: Deutsche Bank began its operations in the country in 1881 by underwriting a capital increase of the Russian Foreign Trade Bank based in Saint-Petersburg and placing the new shares in Germany.
Deutsche Bank Ltd. has now become one of the leading foreign banks in Russia.
For further information, please call:
Olga Podoinitsyna +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 75,140 employees in 75 countries, Deutsche Bank offers unparalleled financial services 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 ranks among the global leaders in corporate banking and securities, transaction banking, asset management and private wealth management. It has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.
Deutsche Bank Ltd. was established in April 1998 in Moscow and is a wholly-owned subsidiary of Deutsche Bank AG. Deutsche Bank Ltd. has become one of the leading foreign banks in Russia, providing local and international, corporate and private clients with a broad range of financial services, including corporate finance and advisory, sales, trading and 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.
As of 1 July 2007, Deutsche Bank Ltd. had assets of Rb 41,552 mn and its capital was Rb 4,976 mn. Net income for the first six months of 2007 stood at Rb 51 mn (under Russian GAAP).