Dagmar Valcarcel Nominated to Join Deutsche Bank’s Supervisory Board

FRANKFURT, Germany, July 12 -- Deutsche Bank issued the following news release:

The Supervisory Board of Deutsche Bank has nominated Dagmar Valcarcel (53) to join it as a new member. She will succeed Stefan Simon (49), who has been appointed as Senior Group Director (Generalbevollmachtigter) of the bank effective August 1, 2019 and is intended to become a member of its Management Board. He has therefore resigned from his Supervisory Board mandate after three years, effective July 31, 2019. Valcarcel is also to become the Chairperson of the Integrity Committee, which was previously chaired by Simon.

In accordance with the procedure recommended by the German Corporate Governance Code, Valcarcel is to be appointed by the court as a member of the Supervisory Board and stand for election by the shareholders at the next Annual General Meeting. The relevant application was filed with the local court in Frankfurt today.

Paul Achleitner, Chairman of the Supervisory Board of Deutsche Bank, said: "On behalf of the entire Supervisory Board, I am extremely delighted to again win a highly qualified attorney for our Supervisory Board. Thanks to her many years of international experience in a variety of areas in the financial industry, including at Barclays Bank Plc, a major bank with global operations, she brings key expertise to the Supervisory Board."

For 24 years, Dagmar Valcarcel has held various positions in the financial industry, in Germany, the UK, Spain, Greece, Switzerland and Luxembourg. Until June 2019, she was the Non-Executive Chair of the Management Board of Andbank Asset Management Luxembourg, and she has been a member of the Supervisory Board of amedes Holding, based in Hamburg, since 2015. Previously, from 2010 until 2017, she held various leading roles in Barclays Bank, among others, as General Counsel for Western Europe and Head of Strategic Resolution for Insurance Operations. Valcarcel holds a PhD in Law from the University of Bonn and is admitted to the bar in Germany, the UK and Spain.