The Management Board of Deutsche Bank AG has as its prime responsibility the Group's strategic management, resource allocation, financial accounting and controls, capital and risk management, and internal controls.

Dr. Josef Ackermann
Chairman of the Management Board and the Group Executive Committee
Dr. Hugo Banziger
Chief Risk Officer
Stefan Krause
Chief Financial Officer
Hermann-Josef Lamberti
Chief Operating Officer
Dr. Josef Ackermann

Dr. Josef Ackermann

born 1948
Management Board member since 1996

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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 Board of Managing Directors of Deutsche Bank, where he was responsible for the investment banking division. In 2002, he became Spokesman of the Board of Managing Directors 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. [close]
Dr. Hugo Banziger

Dr. Hugo Banziger

born 1956
Management Board member since 2006

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Dr. Hugo Banziger is a member of the Management Board and the Group Executive Committee of Deutsche Bank. 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 Banziger 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. [close]
Stefan Krause

Stefan Krause

born 1962
Management Board member since 2008

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Stefan Krause is a member of the Management Board and the Group Executive Committee of Deutsche Bank. 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. [close]
Hermann-Josef Lamberti

Hermann-Josef Lamberti

born 1956
Management Board member since 1999

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Hermann-Josef Lamberti is a member of the Management Board and Deutsche Bank's Group Executive Committee. 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. [close]