Deutsche Bank

With its 78,896 employees in seventy-two countries, Deutsche Bank (quoted on the New York Stock Exchange (NYSE) as DB) is the unrivalled leader in Germany’s banking sector and one of the strongest financial institutions in the world.

Headquartered in Frankfurt, Germany, and headed by Dr. Josef Ackermann since 2002, Deutsche Bank has offices in the world’s most important business centers such as London, New York, Toronto, Sydney, Hong Kong, Moscow, Tokyo, Sao Paulo, and Singapore, and holds strong positions on the rapidly growing markets in the Middle East, South America, Central and Eastern Europe, and the Pacific region.

Deutsche Bank was founded in 1870 as a specialized bank for foreign trade operations and by 1872, the structure had already opened offices in Dresden, Leipzig, Bremen, and Hamburg. In December 2005, the bank marked 125 years since its share was first quoted on the Frankfurt Stock Exchange (FWB).

The body offers a wide range financial services and products to corporate and private clients, including debt and equity management, mergers and acquisitions, risk and fund management, retail and transaction banking.

Each of these sectors is managed by a different division with Deutsche Bank AG. For instance, the Corporate and Investment Bank Group Division (CIB) is responsible for the bank’s activities on the capital markets, including the management of capital markets products, along with debt, equity, and securities management and corporate lending. The Corporate Banking and Securities Division oversee the bank’s securities management and corporate advisory and financing activities.

In the height of the global financial crisis, Deutsche Bank’s Global Transaction Banking Group announced a record high growth for the last year, gaining particularly strong positions in the cash management services on the European and Asian-Pacific markets. At the same time, the credit and equity management department reported significant losses in 2008, as a result of the globally widening credit crunch.

Deutsche Bank is proud to offer its private clients a wide range of services under the supervision of the Private Clients and Asset Management Group Division (PCAM), which is responsible for investment management of institutional and private clients, along with small and medium sized businesses.

The Private Wealth Management (PWM) department, one of the world’s leading wealth managers, provides integrated wealth management and banking services to wealthy individuals and families worldwide, including portfolio and asset management, investment and tax advisory. The Private and Business Clients Corporate Division (PBC) tailors high-class banking services for small and medium-sized business clients, encompassing payment and current account services, securities management, lending and investment services.

A glance at the charter of Deutsche Bank’s performance in the period 2003-2008 reveals a steady growth of net from EUR 1.4 bn in 2003 up to EUR 6.5 bn in 2007. Last financial year was especially hard for Deutsche Bank AG, as they reported a negative net income of – 3.9 billion euro, a startling 29-percent slump in return of equity and the meager 0.5% dividends. Similarly, the group’s revenues shrunk to EUR 13.5 bn against over thirty billion euro for the previous year. The situation has not improved much this year. This becomes clear from a statement of Dr. Josef Ackermann dated February 24, 2009.

“The West is undergoing a once-in-a-century shock, not just in the economy, but in society at large,” he said, as quoted on the bank’s official website.

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