We added 5,422 people during 2006, expanding our presence in North America and Latin America, the Middle East, Central and Eastern Europe, and Asia, notably in China and India. Furthermore, we announced four significant acquisitions during the year. Our purchase of MortgageIT, a U.S. residential mortgage originator, enables us to expand in the important U.S. securitization business. The acquisitions of Berliner Bank and norisbank complement both the regional strength and product range of our retail banking platform in Germany, while the purchase of Tilney Group in the UK gives us a strong footprint in Europe’s second largest private wealth management market.

Global presence