Deutsche Bank has existed since 1870 and is today divided into five business divisions: Corporate Banking & Securities, Global Transaction Banking, Private & Business Clients, Non-Core Operations Unit and Deutsche Asset & Wealth Management. Worldwide, around 98.130 employees in the Group. In Germany, Deutsche Bank has more than 45.390 employees working in 1.845 branches work(as of December 2014).
Deutsche Bank was founded in 1870 by a number of private bankers in Berlin, with Adalbert Delbruck as the driving force behind the new idea of developing traditional banking businesses further. The primary focus was on foreign business and foreign trade financing, but other business areas were opened up quite quickly. Branches were established as early as 1871, initially in Germany and later beyond its borders. In 1914, Deutsche Bank was considered the world's largest bank. However, the First World War was followed by inflation and the banking crisis, and the Second World War claimed further victims. In 1942 and 1943, 54 deposit banks and 82 branches had to close, and in 1945, the headquarters in Berlin closed down. Nearly 1300 Deutsche Bank employees and retirees died during the war. In 1946, reconstruction began.
Today, Deutsche Bank aims to become the world's leading customer-focused universal bank. They want to focus on values such as sustainable performance, customer orientation, ingetrity, partnership, discipline and innovation.
Scandals and damage to the bank's image
But time and time again, Deutsche Bank found itself in negative headlines, damaging its image among the public, politicians and its customers. A cultural change is to eliminate this again.
Deutsche Bank is accused, among other things, of money laundering in Russia, manipulating interest rates, foreign currencies and commodities, and scandals involving substandard U.S. real estate loans. These scandals are said to have caused damage in the tens of billions of euros, with a further 3 billion euros in legal costs to be added by 2017. Raids are repeatedly carried out at the Frankfurt headquarters, most recently (as of June 2015) due to so-called cum-ex share deals, in which shares are purchased shortly before the dividend record date ("cum dividend"), but are only credited to the securities account afterwards ("ex dividend"). These deals have in themselves that a party does not have to pay taxes on the dividend (which was legal until 2012). Furthermore, 200-700 stores are to be closed, although it is still unclear how many jobs will be cut in the process.
Due to this damage, it is up to the new boss John Cryan (from 1.7.2015) to create a new vision to repair the economic damage and regain the trust of all stakeholders. In this regard, there are already some commitments that can be built upon, but which have recently clearly lost credibility.
Commitment and responsibility
Deutsche Bank shows its commitment in various areas and tries to fight against the bad image with the following fields of action:
Sustainable banking
Individuals and business owners are offered financial products for renewable energy and energy efficient retrofits and construction. In addition, the following areas are part of the Group's sustainable banking business:
- Guidelines and standards at the international level, including those on data protection, corporate governance or anti-money laundering.
- Consumer protection and customer advice, with a focus on credibility, transparency and integrity.
- Risk management: the Group's operations are reviewed for banking risks and environmental and social risks.
- Impact investment and microfinance, especially in developing and emerging markets
Society
Through education-based programs, the company empowers young people around the world:
- In the U.S. with Strive for College – College-qualified youth from low-income families get the opportunity to graduate from high school
- In Spain with Fundacion Exit – youth in Spain are assisted in finding a job
- In Germany with the Studienkompass – young people from non-academic families receive help to successfully complete a course of study
- In Asia with ChildHope Philippines – Together with ChildHope, street children receive a musical support program to increase their self-esteem and self-confidence
- In the U.K. with Sporteducate – This program funds sports and youth clubs in London and is primarily for young people who are about to drop out of school or are at risk of losing their career connection.
- In South Africa with Brainwave Careers – This project supports the training of teachers in South Africa so that these teachers can teach English to young people. With English skills, young people have a better chance of gaining education and a foothold in professional life.
Likewise, the group supports contemporary artists, talent in elite sports, and brings culture to children and youth through a program.
Further engagement serves to promote science. To do this, Deutsche Bank partners with universities around the world and fosters exchange between practice and academia.
The company promotes the voluntary commitment of its employees. In 2014, more than 16 worldwide engaged.860 employees of Deutsche Bank.
Environment
The Group is also committed to protecting the environment, including sustainable investment strategies and financial products, a sustainable supply chain, green real estate and green IT. In addition, projects such as Desertec, Get Fit and Solar Impulse are supported.
Employees
In terms of employee rights, Deutsche Bank is guided by the UN Global Compact, the standards of the ILO (International Labor Organization) and the Works Constitution Act of Germany. Suppliers worldwide are required to recognize workers' rights and pay decent minimum wages.
The Group is committed to equal opportunities for women, and in order to maintain a dialog with employees, an extensive employee survey is conducted every year, covering topics such as diversity, working conditions, corporate culture and values, and the like. In addition, two employee reviews with supervisors are possible each year.
There are several offers for health promotion. For example, employees receive assistance to resolve professional and personal issues through the Employee Assistance Program. Employees forty years of age and older can take advantage of regular and free health screenings, which include a healthy eating and lifestyle counseling session. For the purpose of stress management, face-to-face courses and online training are offered. Other health care measures are also offered in the company.
Other offers help employees balance work and family life. There are four hundred company-affiliated places for child care worldwide. In Germany, as well as the United States and the United Kingdom, a family service helps bridge childcare gaps. Flexible workplaces are provided with various work and working time models.
Education and career
Deutsche Bank offers career opportunities to school leavers, students and professionals:
Student traineeship
Vocational training
- Business people for office management
- Office management assistant with additional qualification in foreign language correspondence
- Businessmen for dialogue marketing
- Social Security Clerk
- Bank clerks
Dual studies
- Business Administration
- Business Administration
- Business informatics
Experienced professionals
- Analyst /-in
- Project manager /-in
- Software specialist
- Bank clerk
- Insurance salesman / woman
- Advertising Manager /-in
- Lawyer
- Financial advisor
- and other professions
Salaries at Deutsche Bank
The following are a few examples of salaries for various professions:
- A trainee receives between 867 euros and 1.170 Euro per month
- As an analyst you earn on average 51.471 euros per year
- The annual salary of a financial advisor is around 80.000 euros
- Trainees receive an average of 54.369 Euro annual salary
- As a department manager, the annual income is 112.333 euros
- A project manager receives around 75 per year.000 euros
- As an Accociate, you get 74.488 Euro per year
- Investment bankers earn around 55.922 euros per year
- The average annual income of a customer advisor is 55.236 Euro
- A senior consultant receives an average of 67.918 euros per year
- As a vice president can earn up to 89.Earn 688 euros per year
- Deputy vice presidents receive an annual salary of 77.417 euros