Deutsche Bank AG

Dr. Josef Ackermann is Chairman of the Management Board and the Group Executive Committee of Deutsche Bank. He studied Economics and Social Sciences at the University of St. Gallen, and in 1977 - after obtaining his doctorate - he joined Schweizerische Kreditanstalt (SKA). In 1990, Ackermann was appointed to the Executive Board of SKA, becoming its President in 1993. In 1996, Ackermann joined the Management Board of Deutsche Bank, where he was responsible for the investment banking division. In 2002, he became Spokesman of the Management Board and Chairman of the Group Executive Committee. He was appointed Chairman of the Management Board on February 1, 2006. Under his leadership, the investment banking business became one of Deutsche Bank's principal sources of revenue, joining the top tier of global investment banks within a few years. From 2006 onwards, he pursued the expansion of 'stable' businesses through targeted acquisitions and investments. In September 2008, Ackermann made the key decision to further strengthen Deutsche Bank's Private & Business Clients business by taking a stake in Postbank with the option to buy the company. Ackermann is a member of the Supervisory Board of Siemens AG, of Royal Dutch Shell plc and of the International Advisory Council of Zurich Financial Services Group. He also plays an active role in, among other things, the Initiative Finanzstandort Deutschland (member of the Initiators' Group), the Institute of International Finance (Chairman of the Board), the World Economic Forum (Vice-Chairman of the Foundation Board), the St. Gallen Foundation for International Studies (Chairman) and the Metropolitan Opera New York (Advisory Director). Since 2007, Ackermann has been a Visiting Professor in Finance at the London School of Economics. In 2008, he was named Honorary Professor at Frankfurt's Johann Wolfgang Goethe University and was appointed to the Honorary Senate of the Lindau Meetings of Nobel Laureates.

Hermann-Josef Lamberti is a member of the Management Board since 1999 and Deutsche Bank's Group Executive Committee since 2002. As Chief Operating Officer he has global responsibility for Human Resources, Information Technology, Operations (excluding Securities Settlement according to MaRisk), Cost and Infrastructure Management, Building and Facilities Management as well as Purchasing. He joined Deutsche Bank in 1998 as an Executive Vice President, based in Frankfurt. Hermann-Josef Lamberti began his professional career in 1982 with Touche Ross in Toronto and subsequently joined Chemical Bank in Frankfurt. From 1985 to 1998 he worked for IBM, initially in Germany in the areas Controlling, Internal Application Development and Sales Banks/Insurance Companies. In 1993, he was appointed General Manager of the Personal Software Division for Europe, the Middle East and Africa at IBM Europe in Paris. In 1995, he moved to IBM in the USA, where he was Vice President for Marketing and Brand Management. He returned to Germany in 1997 to take up the position of Chairman of the Management of IBM Germany in Stuttgart. Lamberti studied Business Administration in Cologne and Dublin and graduated in 1982 with a master's degree in Business Administration. Hermann-Josef Lamberti is a member of the Supervisory Board of Carl Zeiss AG, Deutsche Börse AG, BVV Versicherungsverein des Bankgewerbes a.G. und BVV Versorgungskasse des Bankgewerbes e.V. as well as a member of the Board of Directors of European Aeronautic Defence and Space Company EADS N.V.

Dr. Hugo Bänziger is a member of the Management Board and the Group Executive Committee of Deutsche Bank since 2006. As Chief Risk Officer, he is responsible for Risk Management, Legal, Compliance, Corporate Governance, Corporate Security as well as Treasury. After studying Modern History, Law and Economics at the University of Berne, where he earned his doctorate, he gained his first professional experience as assistant to the President of the Swiss Federal Banking Commission in Berne. In 1985, he moved to Credit Suisse and worked in leading management positions in Zürich and London. In 1996, he joined Deutsche Bank as Head of Global Markets Credit in London. In 2000, he was appointed Chief Credit Officer and has been Chief Risk Officer (Credit & Operational Risk) since 2004. In 2006, he became Chief Risk Officer and member of the Management Board and the Group Executive Committee. Hugo Bänziger is a member of the Supervisory Board of EUREX Clearing AG and EUREX Frankfurt AG as well as a member of the Board of Directors of EUREX Zürich AG.

Stefan Krause is a member of the Management Board and the Group Executive Committee of Deutsche Bank since 2008. As Chief Financial Officer he is responsible for Finance, Tax, Corporate Insurance, Investor Relations, Audit and Operations of Securities Settlement according to MaRisk. Following his studies in Business Administration at the Julius Maximilian University of Würzburg, he gained his first professional experience in 1986/87 in Colombia, the country of his birth. From 1987 to 2008, he worked in various management positions at BMW Group in Germany and the USA and was appointed member of its Board of Management in 2002. As a member of the Board of Management he held Group responsibility for accounting, tax, controlling, finance, organization and IT as well as business line responsibility for the financing business and BMW's IT company Softlab from 2002 to September 2007. From October 2007 until joining Deutsche Bank, he was the responsible Board member for Sales & Marketing at BMW.

Jürgen Fitschen is a member of Deutsche Bank's Management Board since 2009 and a member of the Group Executive Committee since 2002. After completing commercial training in the wholesale and import/ export business, he studied economics and business administration at the University of Hamburg. He started his career in the corporate banking business at Citibank in 1975, ultimately serving as a member of the Management Committee, Germany. After joining Deutsche Bank in 1987, Fitschen held executive positions in Thailand, Japan and Singapore, before becoming a member of the "Global Corporates and Institutions" Divisional Board in 1997, based in Frankfurt. A year later he joined the newly designed "Global Corporates and Institutions" division, based in London. In 2001 he was appointed to Deutsche Bank Group Board of Managing Directors where he was responsible for the "Corporate and Investment Bank". Since 2002 Fitschen has been a member of the Group Executive Committee of Deutsche Bank. In 2005 he became Head of the newly established Regional Management worldwide and was appointed as CEO Germany, based in Frankfurt. As CEO Germany he is also Chairman of the Management Committee Germany. In these capacities Fitschen was appointed to Deutsche Bank Management Board in 2009. Fitschen is a member of the Supervisory Boards of Metro AG and Schott AG as well as a member of the Board of Directors of Kuehne+Nagel International AG.

Kevin Parker is a member of the Group Executive Committee of Deutsche Bank and Head of Asset Management since 2002. After attending New York University, he joined Morgan Stanley where he was appointed head of the firm's equity derivatives business in Japan and Asia in 1988, based in Tokyo. He became a Managing Director in 1991 and held a variety of positions including Head of Asian Derivatives, Global Head of Equity Derivatives Trading and Chief Information Officer. He joined Deutsche Bank in June of 1997. Prior to his current role at Deutsche Asset Management, he served as the Global Head of Institutional Equities from 2000 - 2004 and from 1997 - 2000 was responsible for building and developing Deutsche Bank's Equity Derivatives, Prime Brokerage Services, Equity Trading and Equity Proprietary Trading Businesses. Among his roles outside the bank, he serves on the Executive Committee of the New York Police & Fire Widows' & Children's Benefit Fund, and is an Advisory Board Member of the New York Metropolitan Opera.

Michael Cohrs is a member of Deutsche Bank's Management Board since 2009 and of the Group Executive Committee since 2002, Head of Global Banking and Joint Head of Deutsche Bank's Corporate and Investment Bank. He joined Deutsche Bank in 1995 from S.G. Warburg in London where he was Joint Head of Global Equity Capital Markets. From 1989 to 1991 he worked for Goldman Sachs in London where he was Head of Equity Capital Markets. From 1981 to 1989 he worked in various positions at Goldman Sachs & Co. in New York. Michael Cohrs holds a Bachelor of Arts and a Master of Business Administration from Harvard University.

Rainer Neske is a member of Deutsche Bank's Management Board since 2009. In 2003, he became member of the Group Executive Committee and Spokesman of the Board of Deutsche Bank Privat- und Geschäftskunden AG. He is responsible for Deutsche Bank's Private & Business Clients division globally. Rainer Neske joined Deutsche Bank's IT division in 1990 and became member of the Transaction Services division's management team in 1998. He moved on to new responsibilities in the bank's Private & Business Clients division and was appointed as member of the Board of Managing Directors of Deutsche Bank 24 AG (today: Deutsche Bank Privat- und Geschäftskunden AG) in 2000. One year later he became Deputy Spokesman. Neske completed his studies in Computer Science and Business Administration in 1990 and holds the degree "Diplom-Informatiker" from Karlsruhe University. Rainer Neske is a member of the Advisory Board of Deutsche Vermögensberatung (DVAG AG). He is also member of the Supervisory Boards of Zürich Beteiligungs-AG (Deutschland) and of the Frankfurt School of Finance & Management.

Prof. Dr. Henning Kagermann, b. 1947 CEO and Chairman of the Executive Board of SAP AG. Board member since May 3, 2007. Member of the Personnel Committee. -------------------------------------------------------------------------------- PhD in Theoretical Physics (Technical University of Brunswick). Co-chairman of the Executive Board of SAP 1998-2003. A number of leadership positions in SAP since 1982. Member of SAP Executive Board since 1991. Taught physics and computer science at the Technical University of Brunswick and the University of Mannheim 1980–1992, became professor in 1985. Member of the supervisory boards of Deutsche Bank AG and Münchener Rückversicherungs-Gesellschaft AG (Munich Re). Member of the Honorary Senate of the Foundation Lindau Nobelprizewinners.