EFTA01459018.pdf

Pk* pedilietts Ras 'std pray irnvrtmarn tivtlie hghts Atlitnittt prsputivos 1441torencuon Interview The big picture Deutsche AWM's evolutionary path will be continued in a new guise. This will be underpinned by our experts' know-how and our investment process. Disappointments Mr. Kreuzkamp, welcome to the CIO View and congratulations on your new job: in the fixed-income business. Is this a disadvantage in times when equities and are best avoided you are taking over as Chief Investment Officer (CIO) of a platform which is about multi asset are carrying the day? Weil, in my last position as CIO for E MEA by realistic return to be split up again, three years into its and in fact well before then, I could existence. Do you consider yourself as hardly avoid the topics of equities and targets. king of a lost empire? multi asset! By now, I feel completely On the contrary. The amalgamation of at home with all asset classes. I em also several independent units under the delighted to be able to rely on all our roof of Deutsche AWM three years ago excellent experts within Deutsche AWM. established the basis for aggregating our Nevenheless, I value my fixed-income know-how, creating a uniform investment experience. I am convinced that the fixed- process and ensuring a coherent income perspective, even the analysis approach. We can still draw on these of individual bond issues, requires and benefits after the incorporation of wealth encourages a holistic, global view of management into Deutsche Bank's retail financial markets. The three major factors business. for every economy are interest rates, inflation and currency These are also What are the consequences of this step the basis of everyday business in fixed for a wealth-management (WM) client? income. As an equity specialist, you must Not many. It is too early for a definitive focus more on corporate parameters, statement because we are still unless you are an equity strategist. considering the optimal distribution of some resources. Asset management Will you emphasize other features than will continue to actively support our WM your predecessor? colleagues in order to maintain the quality Since he has left now and is no longer my of investment decisions. This step will also boss, I can tell you that Asoka Wahrmann allow us to improve our customer care. In has left a very well-ordered business unit. the past, the dialog with WM clients, who For this reason, my objective is continuity. may use a wide range of our services, was Most changes will be in line with what conducted from various divisions within we have been doing so far. Take the the bank. This is to be replaced now by a continuing globalization (A our business. coordinated, uniform customer contact. The Americas and Asia will be further strengthened by the establishment of CIO Back to Deutsche AWM, back to you. Offices in these regions and an increase Like your predecessor, you started out in the number of locally-based investment Past performance is not indicative of future returns. It is not possible to invest directly in an index. No assurance can be given that any forecast or target will be reached. Forecasts are based on assumptions, estimates, opinions and hypothetical models or analyses that may prove to be incorrect. Investments come with risk. The value of an investment can fall as well as rise and your capital may be at risk. You might not get back the amount originally invested at any point in time. .3. 0 tts= CCA14 / -es I AmiticaEM;761Onnnit4A 201$ CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0119215 CONFIDENTIAL SDNY_GM_00265399 EFTA01459018