02.Deutsche Bank AG , Frankfurt am Main , Germany

Deutsche Bank AG , Frankfurt am Main , Germany
Deutsche Bank AG (literally "German Bank"; pronounced [ˈdɔɪtʃə]; ISIN: DE0005140008, NYSE: DB) is an international Universal bank with a broad private clients franchise, headquartered in Frankfurt, Germany. The bank employs more than 81,000 people in 76 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets.

Deutsche Bank has offices in finance-hubs, including London, Moscow, New York, Singapore, Sydney, Hong Kong and Tokyo. Furthermore, the bank is investing in expanding markets such as the Middle East, Latin America, Central & Eastern Europe and Asia Pacific.

The bank offers financial products and services for corporate and institutional clients along with private and business clients. Services include sales, trading and origination of debt and equity, mergers and acquisitions ((M&A), risk management products such as derivatives, corporate finance, wealth management, retail banking, fund management and transaction banking.

Deutsche Bank’s Chief Executive Officer and Chairman of the Group Executive Committee, since 2002, is Josef Ackermann. The Bank, in terms of its revenues, is one of the top three investment banks in the world.[citation needed] Deutsche Bank is listed on both the Frankfurt (FWB) and New York stock exchanges (NYSE).


History
Deutsche Bank was founded in Germany in January 1870 as a specialist bank for foreign trade in Berlin. Its first branches, inaugurated in 1871 and 1872 were opened in Bremen, Hamburg, Frankfurt, Leipzig and Dresden.
The Bank’s first foray overseas came shortly afterwards, in Shanghai (1872) and London (1873). Already, at this early stage, the bank was looking further afield, making investments in North and South America, Asia and Turkey.
The bank merged with other local banks in 1929 to create Deutsche Bank und DiscontoGesellschaft, at that point the biggest ever merger in German banking history. In 1937, the company name changed back to Deutsche Bank.n 1957, these three banks merged to form Deutsche Bank AG with its headquarters in Frankfurt. Two years later, the bank entered retail banking by introducing small personal loans. In the 1970s, the bank pushed ahead with international expansion, opening new offices in new locations such as Moscow, London, Paris and Tokyo. In the 1980s, this continued with the acquisition of Banca d’America e d’Italia, the first time the bank had acquired a sizeable branch location in another European country.In 1989, the first steps towards creating a significant investment banking presence were taken with the acquisition of Morgan Grenfell, a UK-based investment bankIn 2001, Deutsche Bank was listed on the New York Stock Exchange (NYSE). The following year, Deutsche Bank strengthened its U.S. presence when it purchased Scudder Investments. Meanwhile, in Europe, Deutsche Bank increased its private banking business by acquiring Rued Blass & Cie (2002) and Russian investment bank United Financial Group (2006). In Germany, further acquisitions of Noris Bank and Berliner Bank strengthened Deutsche Bank’s retail offering in its home market.During the financial crisis of 2007/2008 Deutsche Bank has so far written off about €7 billion which is far less than most of the world's major banks.


Performance
Deutsche Bank has been transformed over the past five years, moving from a German-centric organisation that was renowned for its retail and commercial presence to a global investment bank that is less reliant on its traditional markets for its profitability.
For 2007, Deutsche Bank reported a profit of €6.5 billion, a 7% increase on 2006. The bank was less affected than some of its competitors by the subprime crisis that hit the financial markets in the summer of 2007. Deutsche Bank’s CEO, Josef Ackermann, was one of the first prominent figures from the financial community to call for greater transparency among major institutions.

Business Structure
Deutsche Bank’s mission statement is: “We compete to be the leading global provider of financial solutions for demanding clients creating exceptional value for our shareholders and people.” The bank’s business model rests on two pillars: the Corporate & Investment Bank (CIB) and Private Clients & Asset Management.

Acquisitions

* Morgan, Grenfell & Company, 1990.
* Bankers Trust (Successfully Closed) 30 November 1998.
* Scudder Investments, 2001
* Berkshire Mortgage Finance October 22, 2004.
* Chapel Funding, now DB Home Lending September 12 2006.
* MortgageIT Holdings January 3, 2007.