Company history

When Deutsche Bank was founded in Berlin in 1870, the entire banking sector underwent a radical change due to the industrialization taking place, bringing economic growth and welfare to Europe. In its early decades, Deutsche Bank already formed strategic alliances with other regional banks as well as joint ventures in order to strengthen both its domestic and international position. Thus, in 1914, Deutsche Bank succeeded in becoming the world’s biggest bank. However, during World War I, the bank had to face major losses in foreign assets and was forced to sell other holdings. To secure its position during the economic crisis, Deutsche Bank decided to merge with other local German brands in the 1920s to form the ‘Deutsche Bank und Disconto Gesellschaft’, the biggest merger in German banking history back then. Yet, in 1937, the name was changed to Deutsche Bank again. During the World War II period, Deutsche Bank incorporated several other banks that fell into German hands during the occupation of Eastern Europe. Only in 1959 Deutsche Bank entered the retail banking segment, starting to offer small personal loans, followed by an international expansion with new offices in locations such as Moscow, London, Milan, and Paris during the next decades. After entering the investment banking business in 1989 with the acquisition of Morgan Grenfell, a UK-based investment bank, Deutsche Bank was first listed on the New York Stock Exchange in 2001. In Germany, further acquisitions of Norisbank, Berliner Bank and Postbank strengthened Deutsche Bank’s retail offering in its home market.

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Key people

 Dr. Josef Ackermann, CEO

Dr. Josef Ackermann graduated from the University of St. Gallen and currently holds the position as CEO at Deutsche Bank. Before joining Deutsche Bank, Ackermann served as president of Credit Suisse until 1996. However, at the end of 2012, Josef Ackermann's reign at the company will end. Due to a lack of shareholder support, Ackermann will not move on to the supervisory board, but might rather be succeeded in this position by Paul Achleitner, member of the supervisory board of Allianz SE.

  Stefan Krause, CFO

Stefan Krause serves as the Chief Financial Officer since October 2008 and is responsible for  Finance, Tax, Corporate Insurance, Investor Relations, Audit and Group Strategy and Planning. Mr. Krause already worked as CFO for Rolls-Royce Motor Cars Limited of the BMW Group until October 2007.