Deutsche Bank

Annual Report 2017

Deutsche Asset Management (Deutsche AM)

Corporate Division Overview

With over € 700 billion of invested assets as of December 31, 2017, Deutsche AM is one of the world’s leading investment management organizations, bringing access to the world’s financial markets and delivering solutions to clients around the globe. Deutsche AM aims to provide sustainable financial solutions for all its clients: individual investors and the institutions that serve them.

Deutsche AM remains a core business for Deutsche Bank. Since the announcement in March 2017 that we intend to pursue a partial initial public offering of Deutsche AM, we have made considerable progress towards this goal, including the announcement of our intention to float DWS shares on the Frankfurt Stock Exchange. The rationale for the partial IPO is to unlock the potential of the business by fostering greater autonomy. As a standalone asset manager, we will introduce the DWS brand for our global business, which is expected to enhance our external profile. The integration of our infrastructure partners is expected to enable us to achieve further operating efficiencies across the platform, including process improvements to reduce costs and enhance the client experience.

Products and Services

Deutsche AM’s investment capabilities span both active and passive strategies across a diverse array of asset classes and liquidity spectrum including equities, fixed income, liquidity, real estate, infrastructure, private equity and sustainable investments. We offer these capabilities through a variety of wrappers including ETFs, Mutual Funds, and Separately Managed Accounts. Deutsche AM delivers alpha and beta solutions to address the longevity, liability and liquidity needs of clients, leveraging intelligence and technology.

Distribution Channels and Marketing

Coverage/Advisory teams manage client relationships, provide advice and assist clients to access Deutsche AM’s products and services. Deutsche AM also markets and distributes its offerings through other business divisions of Deutsche Bank Group, notably PCB for retail customers, as well as through third-party distributors. To ensure effective service and advice, all clients have a single point of access to Deutsche AM, with dedicated teams serving specific client groups.