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Today at Deutsche Bank

Written by Gary Howes
Wednesday, 08 October 2008
Deutsche Bank (XETRA:DBKGn.DE) (NYSE:DB) has today announced adequate capitalisation levels - anticipating a Tier I capital ratio, under Basel II, of approximately 10% by the end of the third quarter 2008, and consequently that no equity-raising measures are planned. Related Articles Deutsche Bank appoints George Lee Deutsche Bank new Head of Private Wealth Management Morning business news Mike Gelhard joins Deutsche Bank Ex-Lehman MD joins Deutsche Bank Two major appointments were also made today with one appointment coming from the clinching of an ex-Merill Lynch Managing Director. Paul Stefanick to join Deutsche Bank as Global Head of Industrial Group Stefanick will join the firm's Global Banking division as a Managing Director and Global Head of the Industrials Group. He will also serve as a member of both the Global Banking Executive Committee and the Global Banking Americas Executive Committee. He will be based in New York and report to Jacques Brand, Co-Head of Global Industry Coverage at Deutsche Bank. Stefanick joins Deutsche Bank from Merrill Lynch, where he has been a Managing Director and Chairman of Global Mergers & Acquisitions since May 2005. He joined Merrill's M&A group in 1988 and has advised on numerous merger, acquisition, sale, divestiture, takeover defense and recapitalization assignments, primarily in the industrials and technology sectors globally. He will join Deutsche Bank in January 2009 following completion of a notice period. "We are delighted to have an executive of Paul's caliber join our corporate coverage franchise," said Brand. "He is a strong leader and a trusted advisor to CEOs and Boards of many important global clients, particularly in the industrials sector which is a key area of focus for Deutsche Bank." "This year, we have made several appointments that have significantly strengthened our Industrials coverage, and Paul's appointment as Global Head of Industrials is an excellent extension of that effort," said Jim DeNaut, Head of Global Banking in the Americas. "Deutsche Bank is now a leading investment bank in the Americas and is attracting significant talent to the platform. Our market leadership is evidenced by our lead advisory role on several complex transactions and our steady climb in the M&A league tables during this turbulent market." Stefanick earned a Bachelors degree from the University of Notre Dame in 1982 and an MBA from The Wharton School of the University of Pennsylvania in 1988. Indian appointment Deutsche Bank today announced it has appointed Munish Varma as Head of Global Markets India, effective immediately. In his new role, Varma will be responsible for Deutsche Bank's leading sales and trading businesses in India. He will report locally to Gunit Chadha, Chief Executive Officer of Deutsche Bank in India and regionally to Loh Boon Chye, Head of Global Markets Asia ex-Japan. Varma joins from Deutsche Bank in London, where he was Head of Global Principal Finance Europe, responsible for illiquid asset trading and principal investments undertaken by Deutsche Bank in the region. Chadha said: "Global Markets continues to make a significant contribution to financial markets in India, both as a source of liquidity and as a leading provider of investment and risk management products. Under Munish's leadership, Global Markets will continue to serve a client base whose needs are increasing in-line with the development of India's economy and financial markets". Loh said: "India is a strategically important market for our Asian business and one in which we continue to make significant investment. Munish's appointment ensures our Indian business will continue to make a strong contribution to the Bank's local franchise and our broader regional platform". Deutsche Bank Group is currently at the top of the investment banking league tables in India. It is ranked first in equity capital markets year to date in 2008 and first for arranging foreign currency bonds for Indian companies in 2007, according to Bloomberg. Varma takes over from Pavan Sukhdev, who takes a sabbatical from Deutsche Bank to focus on his work in environmental economics and conservation with various non-government organisations, including the Green India States Trust and the United Nations Environment Programme (UNEP). Earlier this year, Pavan was appointed by the EU Commission and Germany to lead a G8+5 project to write a report on The Economics of Ecosystems and Biodiversity. He has also been nominated to lead 'Green Economy', a major UNEP initiative. Varma first joined Deutsche Bank following the merger of Banker's Trust in 1999 and was instrumental in setting up Deutsche's credit structuring business, covering asset re-packs and synthetic CDO's. He has been responsible for the Global Principal Finance business in Europe since 2005.