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Deutsche Bank in South Africa is committed to building a sustainable business in South Africa in which all South Africans can participate. It is taking ongoing responsible steps to comply with the requirements of the various Acts. Deutsche Bank has sold 25% of its South African incorporated operations to Utajiri Financial Services (Pty) Ltd (Utajiri) and Deutsche Bank black staff. Utajiri is a wholly owned subsidiary of Utajiri Investment Holdings (Pty) Ltd - a Black Economic Empowerment (BEE) group. The relationship with Utajiri will bring with it unique insights into empowerment in South Africa and will add considerable expertise that will significantly enhance the Deutsche Bank business model. Utajiri will play a fundamental role in the business and will contribute discernable commercial value across the South African platform.

Transformation is the responsibility of all staff at Deutsche Bank. The Transformation Committee, chaired by the Chief Country Officer consists of elected representative staff from all parts of the business. Each product and support area has a transformation forum that drives initiatives on a decentralized basis. All staff at Deutsche Bank have been through diversity training and there are ongoing initiatives to develop awareness for diversity. The Transformation Committee has set a three year target to achieve a 50:50 Black White ratio within the company. Deutsche Bank has also played an active and supportive role in the formation and implementation of the Financial Sector Charter. On current score card measures, we fulfill a number of the stipulated targets. However, Deutsche Bank feels strongly that transformation should go beyond the Charter. A mentoring program exists for any staff seeking career guidance and support. To support internal transformation, Deutsche Bank conducts trainee schemes and graduate recruitment drives, offshore training and bursary schemes to create a solid and diverse base for future succession and manpower requirements.

Deutsche Bank scores a level A in the Financial Sector Score Card

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Last Update: June 8, 2010
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