Deutsche Bank
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Deutsche Bank

The Champions League of investment banking

How we calculated the investment banking Champions League table

Director of football: Josef Ackermann
Age: 58
Appointed: 2002
Value added: 25% pa (5th)
Chop rating: 3/5

Ackermann came through the Mannesmann bung inquiry, but his domestic fan base remains sceptical despite amazing achievements on the international stage

Head coaches: Anshu Jain (43, 2004) and Michael Cohrs (50, 2004)

Star players:
Many consider Anshu Jain the key to Deutsche’s success. Beneath him, the early retirement of Hope Pascucci leaves Rajeev Misra , global head of credit trading and securitization, as the key player in Deutsche’s unique formation

Rising star: Yassine Bouhara, the head of global markets equity, has had a terrific couple of years. Pablo Calderini, global head of emerging markets, is a key figure in the growth of the business

Weakest link: Debt business is still over-reliant on Europe, with success in the US patchy at best, and the firm was unusually late to the commodities bull market. Increasingly successful in M&A but can Deutsche maintain this when the market slows? And suspicions remain that its risk-taking strategy could backfire if the credit markets suffer a major correction

Key transfers 2006:

IN: Caio Koch-Weser (vice-chairman, from the German ministry of finance); Mel Gunewardena (global head of fixed income, from Goldman Sachs); David Silbert (global head of commodities, from Merrill Lynch)

OUT: Hope Pascucci (global head of European and Asian capital markets, semi-retirement); Michael Raynes (global head of CDO origination, structuring and distribution, to Citigroup)

2006 capital markets performance (▼/▲ 2005)

Overall fees: $3,157mln (+18.4%)