Deutsche Bank : A message from John Cryan on management of US operations

Dear Colleagues,

Today I would like to let you know of some changes to our management structure in the US.

After a long and successful career, Bill Woodley, CEO of DB USA Corporation and the Americas region, will be leaving our bank. Bill joined Deutsche Bank in 1998 and has served in a number of leadership roles including Deputy CEO of the Americas, COO of Regional Management and COO of Asia.

I would like to personally thank Bill for his work establishing DB USA Corporation and for his 19 years of service to our bank. Throughout his time at Deutsche Bank he exhibited the type of character and leadership we desire for all of our employees.

Effective immediately, Tom Patrick will join the Board of DB USA Corporation, be appointed CEO of that entity and take on additional responsibilities as CEO of the Americas region, which remains an important source of growth for Deutsche Bank. In this role Tom will report to me. All Americas or US heads of business divisions and infrastructure functions will report to Tom in addition to their existing functional reporting lines.

Tom will retain his role as Head of Equities and Co-Head of CIB Americas and report to Garth Ritchie in that capacity. Tom joined our bank in 2012 and previously spent 18 years at Bank of America Merrill Lynch, where he held a number of leadership positions in banking and markets.

Please join me in thanking Bill for his service to Deutsche Bank and wishing Tom success in his expanded role.

With best wishes,

John Cryan