bundesbank or deutsche postbank . coordinates 50 6 50 n 8 40 7 e 50.11389 n 8.66861 e 50.11389 ; 8.66861 deutsche bank ag deutsche bank twin towers the headquarters of deutsche bank in frankfurt germany type aktiengesellschaft traded as fwb dbk nyse db industry banking financial services founded 1870 ; 146 years ago 1870 headquarters deutsche bank twin towers frankfurt germany area served worldwide key people paul achleitner chairman john cryan ceo 1 products consumer banking corporate banking finance and insurance investment banking mortgage loans private banking private equity savings securities asset management wealth management credit cards revenue 33.53 billion 2015 2 operating income 6.097 billion 2015 2 profit 6.772 billion 2015 2 total assets 1.629 trillion 2015 2 total equity 62.7 billion 2015 2 number of employees 101 104 2015 3 subsidiaries deutsche bank italy website www.db.com deutsche bank ag literally german bank ; pronounced d t ba k a ge listen help info is a german global banking and financial services company with its headquarters in the deutsche bank twin towers in frankfurt . it has more than 100 000 employees in over 70 countries and has a large presence in europe the americas asia pacific and the emerging markets . in 2009 deutsche bank was the largest foreign exchange dealer in the world with a market share of 21 percent . 4 5 the company was a component of the stoxx europe 50 stock market index 6 until being delisted on august 8 2016 . 7 the bank offers financial products and services for corporate and institutional clients along with private and business clients . deutsche bank s core business is investment banking which represents 50 % of equity 75 % of leverage assets and 50 % of profits . 8 services include sales trading research and origination of debt and equity ; mergers and acquisitions m & a ; risk management products such as derivatives corporate finance wealth management retail banking fund management and transaction banking . 9 in january 2014 deutsche bank reported a 1.2 billion 1.6 billion pre tax loss for the fourth quarter of 2013 . this came after analysts had predicted a profit of nearly 600 million according to factset estimates . revenues slipped by 16 % versus the prior year . 10 on 7 june 2015 the then co ceos juergen fitschen and anshu jain both offered their resignations 11 to the bank s supervisory board which were accepted . anshu jain s resignation took effect on 30 june 2015 but he provided consultancy to the bank until january 2016 . juergen fitschen temporarily continued as joint ceo until 19 may 2016 . the appointment of john cryan as joint ceo was announced effective 1 july 2016 ; he became sole ceo at the end of juergen fitschen s term . in january 2016 deutsche bank pre announced a 2015 loss before income taxes of approximately 6.1 billion and a net loss of approximately 6.7 billion . 12 following this announcement a bank analyst at citi declared we believe a capital increase now looks inevitable and see an equity shortfall of up to 7 billion on the basis that deutsche may be forced to book another 3 billion to 4 billion of litigation charges in 2016 . 8 contents 1 history 1.1 1870 1919 1.1.1 founding members 1.1.2 first directors 1.2 1919 1933 1.3 1933 1945 1.4 post wwii 1.5 since 2000 1.5.1 housing credit bubble and cdo market 1.5.2 leveraged super senior trades 1.5.3 european financial crisis 1.5.4 consolidation 2 performance 2.1 awards and recognition 3 management structure 3.1 the management bodies of deutsche bank 3.1.1 management board 3.1.2 supervisory board 3.1.3 group executive committee gec 4 business divisions 4.1 corporate & investment bank cib 4.1.1 corporate banking & securities cb & s 4.1.1.1 markets 4.1.1.2 corporate finance 4.1.2 global transaction banking 4.1.3 asset & wealth management 4.1.4 private & business clients 4.1.5 pcam 4.2 private wealth management 4.3 communication 5 controversies 5.1 tax evasion 5.2 espionage scandal 5.3 april 2015 libor scandal 5.4 role in 2007 2008 financial crisis 5.5 sanctions violations 6 acquisitions 7 notable current and former employees 7.1 public service 8 awards 9 see also 10 references 11 external links history edit deutsche bank sydney 1870 1919 edit deutsche bank was founded in berlin in 1870 as a specialist bank for foreign trade . 13 the bank s statute was adopted on 22 january 1870 and on 10 march 1870 the prussian government granted it a banking licence . the statute laid great stress on foreign business the object of the company is to transact banking business of all kinds in particular to promote and facilitate trade relations between germany other european countries and overseas markets . 14 three of the founders were georg siemens whose father s cousin had founded siemens and halske adelbert delbr ck and l. bamberger . 15 previous to the founding of deutsche bank german importers and exporters were dependent upon english and french banking institutions in the world markets a serious handicap in that german bills were almost unknown in international commerce generally disliked and subject to a higher rate of discount than english or french bills . 16 founding members edit hermann zwicker bankhaus gebr . schickler berlin anton adelssen bankhaus adelssen & co. berlin adelbert delbr ck bankhaus delbr ck leo & co. heinrich von hardt hardt & co. berlin new york ludwig bamberger victor freiherr von magnus bankhaus f. mart magnus adolph vom rath de bankhaus deichmann & co. cologne gustav kutter industrieller for bankhaus gebr der sulzbach frankfurt gustav m ller w rttembergische vereinsbank stuttgart first directors edit wilhelm platenius georg siemens and hermann wallich the bank s first domestic branches inaugurated in 1871 and 1872 were opened in bremen 17 and hamburg . 18 its first foray overseas came shortly afterwards in shanghai 1872 19 and london 1873 20 followed sometime by south america 1874 1886 . 15 the branch opening in london after one failure and another partially successful attempt was a prime necessity for the establishment of credit for the german trade in what was then the world s money centre . 16 major projects in the early years of the bank included the northern pacific railroad in the us 21 and the baghdad railway 22 1888 . in germany the bank was instrumental in the financing of bond offerings of steel company krupp 1879 and introduced the chemical company bayer to the berlin stock market . the second half of the 1890s saw the beginning of a new period of expansion at deutsche bank . the bank formed alliances with large regional banks giving itself an entr e into germany s main industrial regions . joint ventures were symptomatic of the concentration then under way in the german banking industry . for deutsche bank domestic branches of its own were still something of a rarity at the time ; the frankfurt branch 23 dated from 1886 and the munich branch from 1892 while further branches were established in dresden and leipzig 24 in 1901 . in addition the bank rapidly perceived the value of specialist institutions for the promotion of foreign business . gentle pressure from the foreign ministry played a part in the establishment of deutsche ueberseeische bank 25 in 1886 and the stake taken in the newly established deutsch asiatische bank 26 three years later but the success of those companies in showed that their existence made sound commercial sense . 1919 1933 edit the immediate postwar period was a time of liquidations . having already lost most of its foreign assets deutsche bank was obliged to sell other holdings . a great deal of energy went into shoring up what had been achieved . but there was new business too some of which was to have an impact for a long time to come . the bank played a significant role in the establishment of the film production company ufa and the merger of daimler and benz . the bank merged with other local banks in 1929 to create deutsche bank und discontogesellschaft at that point the biggest ever merger in german banking history . increasing costs were one reason for the merger . another was the trend towards concentration throughout the industry in the 1920s . the merger came at just the right time to help counteract the emerging world economic and banking crisis . in 1937 the company name changed back to deutsche bank . the crisis was in terms of its political impact the most disastrous economic event of the century . the shortage of liquidity that paralyzed the banks was fuelled by a combination of short term foreign debt and borrowers no longer able to pay their debts while the inflexibility of the state exacerbated the situation . for german banks the crisis in the industry was a watershed . a return to circumstances that might in some ways have been considered reminiscent of the golden age before world war i was ruled out for many years . 1933 1945 edit after adolf hitler came to power instituting the third reich deutsche bank dismissed its three jewish board members in 1933 . in subsequent years deutsche bank took part in the aryanization of jewish owned businesses ; according to its own historians the bank was involved in 363 such confiscations by november 1938 . 27 during the war deutsche bank incorporated other banks that fell into german hands during the occupation of eastern europe . deutsche bank provided banking facilities for the gestapo and loaned the funds used to build the auschwitz camp and the nearby ig farben facilities . 28 during world war ii deutsche bank became responsible for managing the bohemian union bank in prague with branches in the protectorate and in slovakia the bankverein in yugoslavia which has now been divided into two financial corporations one in serbia and one in croatia the albert de barry bank in amsterdam the national bank of greece in athens the creditanstalt bankverein in austria and hungary the deutsch bulgarische kreditbank in bulgaria and banca comercial rom n the romanian commercial bank in bucharest . it also maintained a branch in istanbul turkey . in 1999 deutsche bank confirmed officially that it had been involved in auschwitz . 28 in december 1999 deutsche along with other major german companies contributed to a us 5.2 billion compensation fund following lawsuits brought by holocaust survivors . 29 30 the history of deutsche bank during the second world war has since been documented by independent historians commissioned by the bank . 27 post wwii edit following germany s defeat in world war ii the allied authorities in 1948 ordered deutsche bank s break up into ten regional banks . these 10 regional banks were later consolidated into three major banks in 1952 norddeutsche bank ag ; s ddeutsche bank ag ; and rheinisch westf lische bank ag . in 1957 these three banks merged to form deutsche bank ag with its headquarters in frankfurt . in 1959 the bank entered retail banking by introducing small personal loans . in the 1970s the bank pushed ahead with international expansion opening new offices in new locations such as milan 1977 moscow london paris and tokyo . in the 1980s this continued when the bank paid us 603 million in 1986 to acquire the banca d america e d italia the italian subsidiary that bank of america citation needed had established in 1922 when it acquired banca dell italia meridionale . the acquisition represented the first time deutsche bank had acquired a sizeable branch network in another european country . in 1989 the first steps towards creating a significant investment banking presence were taken with the acquisition of morgan grenfell & co. a uk based investment bank . by the mid 1990s the buildup of a capital markets operation had got under way with the arrival of a number of high