2002 Media Releases

Deutsche Bank today announced the appointment of Michael Ormaechea as Head of Global Markets, Australia/New Zealand. Michael succeeds Chum Darvall, who has been appointed CEO Deutsche Bank Australia New Zealand. Both appointments are effective from June 30th.

In announcing the appointments, Jonathan Paul said,”Michael has played a key role in making our sales and trading platform the market leader in Australia and New Zealand. He is the natural candidate to lead the ongoing evolution of our business as we seek to continue raising the bar in service of our clients’ needs."

Chum Darvall, CEO designate Deutsche Bank Australia/New Zealand said, “Michael is an outstanding professional with over 15 years’ experience in financial markets. His promotion is richly deserved. He clearly has the capabilities to expand the regional Global Markets franchise much further.”

Deutsche Bank's Global Markets business has grown substantially over the past 5 years to be a leading full service provider in Australia and New Zealand. In 2001, Deutsche Bank's achievements were recognised by the market and it's clients when it was awarded Derivatives/Risk Management House of the Year by both INSTO and AsiaRisk and won for a second year running INSTO's Debt House of the Year. Recognised as the leader in Economic Research, Securitisation, Commercial Paper and Credit Products, the Bank also enjoys the No.1 Foreign Bank position in Foreign Exchange, Money Market and OTC Derivatives.

For information, please contact:

Kate Abrahams
Press Office
Deutsche Bank AG
(61 2) 92582416
kate.abrahams@db.com