DEUTSCHE BANK AG\

The Deutsche Bank was founded in Berlin in 1870. The bank’s statute emphasized foreign business, stating that “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.” Within the first 5 years of its opening, the bank would open branches in Bremen, Yokohama, Shanghai, Hamburg and London. In the bank’s second decade, it would see great growth. By maintaining a stronghold in Germany to finance business abroad, it was able to form alliances with large regional banks. While the postwar period forced a series of liquidations, the bank would merge with other local banks in 1929 to create the Deutsche Bank and DiscontoGesellschaft. The onset of World War II and Adolf Hitler would see the bank gain in size, incorporating banks that fell into German Hands, become divided into 10 regional banks with Germany’s defeat, and the reunification of the banks to form the Deutsche Bank AG in 1957. Two years later, the bank would enter retail banking by introducing small personal loans. Through the 1970s the bank would refocus on international expansion, opening new offices in locations such as Milan, Moscow, London, Paris, and Tokyo. In the 1980s Deutsche Bank would acquire the Italian subsidiary of Bank of America and Morgan, Grenfell & Co., beginning to create an investment-banking presence. It would continue acquisitions through the 90s, merging with Banco de Madrid, Banca Popolare di Lecco, Credit Lyonnais Belgium, and Bankers Trust. Before opening in NYSE, it would consolidate all U.S. Activities under Deutsche Bank North America Holding. Deutsche Bank would continue with its acquisitions through the new millennia, acquiring companies such as the Swiss Private BanK Rued, Blass & Cie, Berliner Bank and Norisbank. It now holds total assets equal to over $1.6 trillion. Notable mutual funds include its Core Plus Income Fund and Commodity Strategy Fund and notable ETFs include the MSCI EAFE Hedged Equity and MSCI Emerging Markets Hedged Equity.