Deutsche Bank Offshore Group Claims Top Spot at Private Bank Awards

Deutsche Bank has earned the accolade of the best private bank in all four jurisdictions that form its Offshore Group in the prestigious Euromoney Private Banking and Wealth Management survey 2008. Its offices in Cayman, Guernsey, Jersey and Mauritius have all been named top in the regional section of the survey.

This is the second successive year that Deutsche Bank has been named in the top spot in Cayman, Guernsey and Jersey, whilst the Mauritius office has come top in the first year that the jurisdiction has been included in the survey.

The survey reflects the opinions of both advisors to private clients and other wealth management companies and takes into account a wide range of factors including assets under management, profitability, ratio of clients to relationship managers and the range of services offered.

The results of the survey, considered to be the benchmark poll in global private banking, were announced this week and include an impressive list of the world’s best private banks, fund and investment management houses and private client stockbrokers. Divided into areas of service and geographical regions, the survey provides a qualitative and quantitative review of the best services in private banking around the world.

The award comes at a particularly significant time for Deutsche Bank in all four jurisdictions. Last year it celebrated its 35th anniversary of being in the Channel Islands, whilst the Bank is celebrating its 25th anniversary of being in Cayman this year. Meanwhile, the Mauritius office is experiencing significant growth across its business areas and its Private Wealth Management business is looking forward to celebrating its 10th anniversary of being in the island in 2009.

On a global scale, the Bank came 5th in the overall worldwide rankings, up one place from 2007.

Mark Hirst, Chief Executive Officer of Deutsche Bank Offshore, commented:

“It is very pleasing for all four of our offshore offices to be named at the top of the rankings in this prestigious Euromoney survey. It is a tribute to the hard work of staff across the Offshore Group that Deutsche Bank’s approach to managing the wealth of our clients and our commitment to performance and client-centric service has been recognised again by so many professional advisors in our highly challenging market. I am extremely thankful to all of our clients for their continued support and loyalty as the Bank looks forward to another successful year in 2008.”

The rankings for the survey are the basis for the Euromoney Private Banking Awards, which will be presented at the Euromoney Private Banking Dinner in London on 31st January 2008.