The Corporate Center supports the Group Board in the fulfilment of its management responsibility. The tasks range from the the preparation, management and control of key Group functions to the optimization of important resources and to communication with staff, media and shareholders.
Risk control and risk management. The Controlling staff unit, globally integrated into the Corporate Divisions, but independent of them, is primarily responsible for the correctness and transparence of our financial figures. Correct and early data are the indispensable basis for the decisions of management and for the valuation of our share on the stock market. Heavier demands were caused in 2003 in particular by the Sarbanes-Oxley Act, new accounting regulations and the deconsolidation of non-core activities.
The Tax unit has functional responsibility worldwide for our tax positions and for the fulfilment of our tax obligations. It advises the Corporate Divisions on tax issues relating to structures, products and transactions. Global Risk Management oversees and manages Deutsche Bank’s credit, market and operational risks; it did excellent work in the unstable economic environment of 2003.
Optimization of resources. In a phase of rapid organizational change, human resources policy has great importance. With its modern staff selection and staff development methods as well as the stronger orientation of management philosophy towards team spirit, it contributes to the evolution of a shared “one bank culture” in our company.
The Treasury unit has functional responsibility for the optimal management of capital, balance sheet and liquidity. It also coordinates their allocation to the Corporate Divisions and is responsible for ensuring that regulatory capital requirements are fulfilled throughout the Group. With our core capital ratio of 10.0%, we are well above the industry average.
One of the cornerstones of our corporate strategy is the development of the “Deutsche Bank” brand. It is one of the the best-known financial brands in Europe with a clear profile among corporate and private clients. Our name stands in particular for professionalism and market leadership.
Communications. The transformation of the bank also made significantly higher demands on Communications in 2003. To meet these requirements more effectively, we combined communications with staff and media in one unit. There was again closer coordination with our staff unit Investor Relations , which is responsible for providing information to shareholders, analysts and rating agencies.