FOR IMMEDIATE RELEASE


SYDNEY, 21 JANUARY 2003 – Deutsche Bank today announced the appointment of Steve Vrcelj as Managing Director and Head of Global Equities of Deutsche Bank in Australia. Vrcelj’s appointment will be effective from February 17 onwards and he will be based in Sydney. He succeeds Robin Yandle, who is retiring.

Yandle, who joined Deutsche Bank almost 20 years ago, has had a distinguished career in building and growing the Bank’s Australian franchise. He was appointed the Head of Australian Equities in 1998.

Vrcelj joins from Morgan Stanley where he was Head of Equities Products for Asia (including Australia and ex-Japan) based in Hong Kong. Prior to that, he was Head of Equities Derivatives. Vrcelj joined Morgan Stanley in 1991.

“It has been a great pleasure to have worked with Robin and his enthusiasm and drive will be missed. We are extremely pleased that Steve has joined the team and we look forward to him taking our Australian platform to new heights,” said Ed Peter, Deutsche Bank’s Head of Global Equities for Asia (including Australia, ex-Japan).


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In Asia Pacific, Deutsche Bank has over 30 offices in 15 countries with more than 6,100 staff.

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