Deutsche Asset & Wealth Management Next Generation – In the context of international Wealth Management Tradition me

1. Deutsche Asset & Wealth ManagementNext Generation – In the context of international Wealth Management Tradition meets Modernity David Kroell, International Family Office Services Tel Aviv 10th June, 2014

2. Deutsche Asset & Wealth ManagementDeutsche Bank’s History of Family Office Services 1988 1990 1999 2005 2011 2013 Creation of Deutsche OppenheimFamily Office AGby merger of Wilhelm von Finck Deutsche Family Office AG and OppenheimVermögenstreuhand GmbH Creation of Wilhelm von Finck Deutsche Family Office AG by merger of Wilhelm von Finck AG and Deutsche Family Office GmbH Foundation of OppenheimVermögens-treuhand GmbHinCologne byformer partners of Sal. Oppenheim Foundation of Deutsche Family Office GmbH in Frankfurt am Main by Deutsche Bank Acquisition of Wilhelm von Finck AG by Deutsche Bank Foundationof Wilhelm von Finck AG in Munich by Wilhelm von Fincksen. and Wilhelm von Finck jun. Deutsche Bank 5 Strategic Pillars Private & Business Clients Corporate Banking & Securities Deutsche Asset &WealthManagement Global Transaction Banking Non-Core Operations Going international: creation of International Family Office Services (IFOS) Deutsche Asset & Wealth Management 2

3. International Family Office ServicesA Full Range of Solutions – Next Generation Tailored investment strategy Client’s personal situation and objectives Client Monitoring and review Note: The services described are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Certain products and services may not be available in all locations or to all Deutsche Bank Wealth Management clients. Deutsche Asset & Wealth Management

4. Prediction 2030Whatcanbeexpected? Forecast Inherited Assets from 2011 until 2020 (Germany) in bn. Euro • The volume of inheritances worldwide is constantly rising - a trend that will continue • Substantial amounts of money in the coming years will be inherited to the next generation • While the transfer of assets from the older generation to the Baby Boomers takes place, in the coming years a gigantic wave of private assets will be inherited to the younger generations (NextGen) • These younger generations are referred to as Generation X and Y • The estimates are € 2.6 trillion by 2020 for Germany and USD 30 trillion by 2040 for the USA • Inheritance within a Generation • Inheritance over Generations • Bankable Assets Real Estate Tangible Assets Cp. Deutsches Institut für Altersvorsorge: Erben in Deutschland, Köln 2011 Wealth Managers can position themselves in an attractive market and benefit if they combine their traditional values ​​with new customer requirements Existingcustomerrelationshipsendangered AcceleratedlossofAssets Changing Customer Needs • Twofold Challenge: • Retain loyalty of existing customers • Continue development of an attractive value proposition for NextGen • New preference structure and behavioral patterns of customers • Riskto not adequatelyaddresscustomers • On average 70% of private bankingcustomersareover 50 years.2 • In 40% of the cases, the next generation of the current customer is not known 1Cp. Accenture, The “Greater“ Wealth Transfer Capitalizing on the Intergenerational Shift in Wealth, 2012 2 Cp. Cocca, T.D., ExternalAssets Managers, Studie Zürich, 2011, unveröffentlicht

5. Who exactly is the Next Generation (“NextGen”)?Characteristics • As term for the future client-generation in private banking the so-called Generation X can be used • In addition, Generation Y is included to account for possible additional scenarios Generation X (30 – 45 years) Generation Y (15 – 30 years) • Independent and autonomous • Self-representation is important • Growing need to be accepted by comrades and network with them • Individualistic and independent • “Work-Life-balance” is important • Self-determination is important • Conservative and prudent handling of money Life Style • Willingness and eager to learn new things • Merging the boundaries between education and entertainment • Advice from friends and relatives has a higher value than an expert consultation1 • Better education than Baby-Boomers • General financial knowledge • Critical attitude towards banks • Strongly affected by the 2007 financial crisis Financial Eductaion • Producers, distributors and consumers of content • Recommended products are preferred • Higher reliance on information from neew media • Insignificant customer retention force to bank brands • Low loyalty towards brands • Pronounced affinity for new technologies • Multi-bank relationships and frequent change of bank Consumer behaviour 1 Vgl. Williams K.C./Page , R.A.; Marketing to the Generations, Journal of Behavioral Studies in Business, Volume 3, April 2011, S.9

6. Facts and Figures …..….. to the use of social media by NextGen customers 1 52% of Twitter- and Facebook users are over 35 years old. The use in the age class 50-56 years has gone from 9% to 20% in the last 3 years 2 • 70% of the millionaires in the USA use Social Media On average a wealthy person in the USA is member of 2,8 Social Networks with an average of 110 contacts 3 • 47% of the UHNW individuals in Europe use Facebook 4 • Already today 20% of the age class 60 -69 years can not imagine their life without Social Networks 5 • More than 50% of the UHNW individuals in Europe recognize Social Media as most important channel of communication with their bank. 6

7. Change is nothing new to Wealth Management…..….. but it’s coming faster and with more fury “Banking is essential. Banks are not.” Bill Gates

8. Requirements for Next Gen Wealth Management (1/2)10 Imperatives • Interact virtually! 1 • Give me power! 2 • Giveme a sense! 3 • Network me! 4 • Emotionalise me! 5

9. Requirements for Next Gen Wealth Management (2/2)10 Imperatives • Respect me! 6 • Inspire me! 7 • Open yourselfup! 8 • Convince yourself! 9 • Re-invent yourself! 10

10. Structure of the future Wealth-Management industryPossible scenarios for 2030 • Szenario 1 • I-Bank Potential ofoccurenceofthe relevant Scenario Potential for change for Wealth Mangers • Szenario 2 • Evolution oftheestablished Banks • Szenario 3 • Apple / Facebook-Bank (iWealth) • Szenario 4 • It‘s all an Illusion Cp. Cocca, T.D., Private Banking 2030, März 2014 , S. 16-18

11. What is “DB Next Generation”? • We anticipate the changed trends and needs of the upcoming entrepreneurial generation • We provide inspiring ideas and agile strategies for long-term partnerships • “Connecting and empowering the entrepreneurs of tomorrow in today’s world of finance” • As their global partner, we encourage and accompany the interdisciplinary and intercultural dialogue within this exclusive target group of tomorrow’s key clients and get in constant touch with them at an early stage of their lifecycle. Deutsche Asset & Wealth Management

12. International Family Office Next GenerationOur gateway for Next Generation clients Under our initiative “Next Generation SUCCESSION”, Deutsche Asset & Wealth Management is offering a universe of dedicated educationalprograms bringing together: • founders, representatives and heirs of the most influential entrepreneurial families as well as young successful entrepreneurs from all over the world. Next Generation SUCCESS I O N I nformation Expertise O rientation Education / Knowledge Transfer N etwork Global Network Deutsche Asset & Wealth Management

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