Deutsche Bank Announces Several Senior Global Insurance Asset Management Appointments in Europe, Asia Pacific and the US

Deutsche Bank’s Asset Management (DeAM) division has made senior appointments within its Global Insurance Asset Management (GIAM) business in Europe, Asia Pacific and the United States, further strengthening its position as the leading provider of outsourcing solutions to insurance companies. Joseph Walters has joined GIAM in Zurich as a Managing Director and Head of European Insurance Relationships. Chris Price will be joining GIAM as Director and European Manager of Insurance Advisory Services based in London. Lucas Weatherill will join as a Director and Chief Investment Strategist in Singapore for insurance and institutional clients. Tony Breen, a Director in DeAM’s Australia Institutional business, has assumed additional responsibility for GIAM business development, based in Sydney. Nilofar Niazi has joined as a Director and senior Sales and Distribution officer based in New York. In his new role, Walters will oversee the European Sales and Distribution platform for GIAM, reporting to Robert Goodman, a Managing Director and Co-Head of GIAM. He will manage staff in London, Zurich and Frankfurt. Walters is a former McKinsey & Company consultant and entrepreneur who has founded, managed and grown three businesses in Europe in the past 15 years. As an entrepreneur, Walters was responsible for initiating and managing long-term business partnerships with firms such as Deutsche Post, Helsana Health Insurance in Switzerland and SilverCross Health Insurance in Holland. He earned a BA from the University of Michigan. Price will be responsible for working with insurance clients in Europe to develop customized strategic asset allocation solutions. He will work with clients on investment-related matters such as accounting, regulation, taxes, portfolio optimization, risk management and asset-liability management. He will report to Steve Doire, a Managing Director and Global Head of Insurance Advisory Services. Price joins from Brit Insurance Holdings PLC where he was a Financial Controller. Prior to Brit, he was a Finance Director at Markel Syndicate Management and a Group Finance Director at St. Paul Syndicate Holdings. He earned a Bachelor of Science in Pure Mathematics and Mathematical Statistics from the University of Exeter and is a Chartered Accountant. Based in Singapore, Weatherill’s responsibilities will include strategic and tactical asset allocation and management of capital adequacy for insurance clients operating in Asia, Australia and the Middle East. He will report jointly to Sam Baker, Head of Insurance Relationships for Asia Pacific and Middle East and to Scott Jaffray, Chief Investment Officer, Asia Pacific and Middle East and North Africa. Weatherill has over 15 years of experience in investment management, recently at Schroders Investment Management where he was Head of Strategic Solutions Asia, a member of the Global Asset Allocation Committee, and Chairman of the Asian Asset Allocation Committee. Prior to Schroders, he was the Global Market Strategist for Prudential Manager Australia. Weatherill earned a bachelor’s degree in Business and a Masters in Finance from RMIT University in Melbourne. Breen has assumed responsibility for GIAM’s business in Australia, reporting to Sam Baker. He will also continue to be responsible for institutional business development. Breen’s prior experience includes management of the fixed interest investments of the Australia branch of Prudential plc, which covered both balance sheet and third party assets. He also spent a number of years managing insurance company liabilities. He earned a BA from Macquarie University, majoring in Actuarial Science. Niazi will focus on GIAM Marketing and work with the global GIAM Sales and Distribution team to identify and address business development opportunities. She reports to Robert Goodman and will work with Ken Riva, a Managing Director and Global COO for GIAM. Niazi joins from Deutsche Bank's Global Banking division, where she was a Director. Prior to Deutsche Bank, Niazi worked in the Mergers & Acquisitions group at Rothschild Inc. in New York. Stefan Dunatov also has joined GIAM as a Vice President and Business Development Officer in London, reporting to Joseph Walters. Dunatov joins the firm from The Reserve Bank of New Zealand where he was an Advisor in the Financial Stability Department. Previously he was a portfolio strategist responsible for strategic asset allocation at Equitas in London. He earned a Bachelor of Commerce from the University of Auckland, New Zealand, and a Master of Science from the London School of Economics and Political Science. "These appointments are another important step in implementing GIAM’s strategy of providing premier outsourcing solutions to insurance companies in all time zones around the globe,” said Goodman. "As the world’s largest and only global, multi-local specialized insurance asset management firm, GIAM prides itself on being innovative and totally focused on value creation for our clients.” Named the world’s largest third-party manager of insurance portfolios in Insurance Asset Manager’s Mid-Year 2006 Survey, DeAM has EUR 110 billion in insurance assets under management worldwide as of 31 March 2007. GIAM’s dedicated insurance investment professionals are located in North America, Europe and Asia-Pacific and invest across a full range of traditional and alternative strategies. The GIAM team has won commitments for approximately EUR 12.8 billion AUM in insurance business during the first five months of 2007. 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 73,114 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. www.db.com About Deutsche Asset Management With approximately EUR 553.01 billion in assets under management globally (as of 3/31/07), Deutsche Bank’s Asset Management division is one of the world's leading investment management organizations, not just in size, but in quality and breadth of investment products, performance and client service. The Asset Management division provides a broad range of investment management products across the risk/return spectrum.