Deutsche Bank Builds Stronger Domestic Bank in Germany
Increasing client centricity
Frankfurt am Main,--In line with its Strategy 2015+, Deutsche Bank is strengthening its domestic bank in the German home market. To this end, the Bank will launch five initiatives which will be implemented within this year:
-Alignment and integration of commercial banking coverage by expanding the corporate division Private & Business Clients: Deutsche Bank will align coverage of mid-sized corporate clients, small corporate clients and private clients
-Increased client proximity: Mid-sized corporate clients gain access to 180 additional advisory centers within the Bank’s existing domestic branch network
-Targeted access to the Bank’s global product expertise: increased collaboration between commercial banking relationship managers and the Bank’s Global Transaction Banking division
-Transfer of decision-making to the domestic branch network
-Enhanced regional presence and connectivity: five new Regional Heads in Germany will coordinate regional business activity across corporate divisions
Jürgen Fitschen, Co-Chairman of the Management Board and CEO Germany, said: “We are building a stronger domestic bank in Germany. As a client-centric universal bank, we will strengthen the collaboration between our corporate divisions, increase our client focus and improve client proximity. We want to further strengthen our leading market position in Germany, win new clients and new business, particularly from the small and mid-sized corporate client segment.”
1. Alignment and integration of commercial banking coverage for small and mid-sized corporate clients
In order to ensure enhanced coverage and advisory services for the Bank’s 900,000 small and mid-sized corporate clients, Deutsche Bank will align its coverage model. The Bank’s Private & Business Clients (PBC) corporate division in Germany will be enlarged to also cover the approximately 11,500 mid-sized corporate and public sector clients. That means that the coverage of mid-sized corporate clients and those of small corporate clients, which were previously managed separately, will now be aligned under a single roof in a new Private & Commercial Banking business division. This division will comprise coverage of private clients, Private Banking clients as well as small and mid-sized corporate clients (the “Mittelstand”) in Germany. The new business division will be co-headed by Thomas Rodermann, Spokesman of the Management Board of Deutsche Bank Privat- und Geschäftskunden AG, and Wilhelm von Haller, until recently CEO of Sal. Oppenheim and former Co-Head of Deutsche Bank’s commercial banking business in Germany.
Corporate Banking & Securities (CB&S) will continue to advise approximately 1,400 large, globally connected corporate clients with a strong demand for capital market products and complex risk management solutions. Public sector clients with comparable needs will also be covered by CB&S. Armin von Falkenhayn, Co-Head of CB&S Germany, will oversee this business.
2. Increased regional proximity
A key focus in building a stronger domestic bank is intensifying local coverage for mid-sized corporate clients. These clients will get access to 180 additional advisory centres in the Bank’s domestic branch network. Going forward, Deutsche Bank will provide commercial banking services to its mid-sized corporate clients from a total of 250 locations across the country.
3. Targeted access to global product expertise for the entire “Mittelstand”
Commercial banking relationship managers will further increase collaboration with the Bank’s Global Transaction Banking (GTB) division in order to enhance advisory and service quality for trade finance and payments solutions, and to provide targeted access to the Bank’s international expertise and global network.
4. Transfer of decision-making competencies to the domestic bank
By aligning its service portfolio in the Private & Commercial Banking division, Deutsche Bank will also transfer responsibilities from the headquarters into the domestic branch network. Clients will benefit from faster and more client-centric decision-making processes.
5. Enhanced regional presence and connectivity
Deutsche Bank will also strengthen its regional presence by appointing five Regional Heads. Their mandate will be to represent Deutsche Bank as a universal bank in their respective regions and increase regional visibility. The five Regional Heads will coordinate all of the Bank’s activities in the respective regions across all corporate divisions and client segments, ranging from large corporate clients, mid-sized and small corporate clients and private clients to ultra high-net worth individuals as well as select institutional clients in Wealth Management. The new Regional Heads are:
Cornel Wisskirchen (North Region, Hamburg), Harald Eisenach (East Region, Berlin), Ulrich Schürenkrämer (South Region, München), Martin Renker (West Region, Düsseldorf) and Andreas Torner (Central Region, Frankfurt am Main). All Regional Heads will report to Jürgen Fitschen in his role as CEO Germany.
Implementation of these initiatives will take place this year, with the involvement of all relevant committees and employee representatives.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 20 March 2012 under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.
This news content was configured by WebWire editorial staff. Linking is permitted.