Deutsche Bank Appoints Chief Country Officer For Russia

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Deutsche Bank has announced that Pavel Teplukhin becomes Chief Country Officer for Deutsche Bank in Russia.

Teplukhin joins Deutsche Bank on October 1, 2012 and will report to Stephan Leithner, Member of the Management Board and the Group Executive Committee, CEO Europe, Deutsche Bank AG.

During the transition over the next months Igor Lojevsky will support the team in Russia.

Commenting on the appointment, Leithner said: 'We welcome Pavel Teplukhin, a reputed finance expert who has held key roles in the Russian stock market and private banking industry. In his new role Pavel will further develop the Deutsche Bank Russia’s franchise and implement initiatives that will enhance the value of the Russian business. Specifically, the focus will be on expanding Deutsche product range offered to Russian clients and assisting Russian corporates with their international and global aspirations. Pavel brings a unique combination of strong client relationships and a deep understanding of the Russian financial market'.

Juergen Fitschen, Co-Chairman of the Management Board and the Group Executive Committee, Deutsche Bank AG, said: 'We thank Igor for his outstanding contribution to the bank and appreciate his great efforts in maintaining and further building Deutsche Bank’s leading, long-established franchise in Russia. Under his tenure, Deutsche Bank became a leading international investment bank in Russia. We wish Igor well in his future endeavours'.

Teplukhin commented: 'It is a pleasure for me to join such a reputable international financial institution. Making Deutsche Bank products available to a broader circle of Russian corporates and developing Deutsche’s Private Wealth Management franchise will be among my strategic priorities. I am excited and look forward to working with the new team to further strengthen Deutsche Bank’s platform and maintain the excellent level of service that the bank delivers to its clients in Russia'.

Teplukhin is regarded as one of the most reputable figures in the region's financial services industry. He was a co-founder of the leading Russian investment company. Under his leadership, its asset management business grew to become one of the largest players in Russia and CIS. Pavel Teplukhin pioneered the introduction of mutual funds and private banking services and played a key role in the emergence and development of the Russian securities and mutual funds market. He is one of the leaders and authors of the Russian pension reform.

Joerg Bongartz remains Chairman of the Management Board of Deutsche Bank Ltd (Russia) and Raj Tanna remains Chief Operating Officer of Deutsche Bank Russia.

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