Deutsche Bank

Background information

Deutsche Bank first appearance in Italy dates back to 1883 when it offered on the Berlin stock market a bond issue by Rome’s municipality. In 1890, along with Berliner Handels Gesellschaft, created a pool of banks devoted to the placement on the market of Italian debt instrumentswhich in just two year time managed two-thirds of all the securities issued by the central and local governments as well as by railway companies. Deutsche Bank contributed to the creation of the building society Istituto di Credito Fondiario too and, together with other financial institutions from Germany, Austria and Switzerland, founded in 1894 Banca Commerciale Italiana in Milan.

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Deutsche bank retained its holding in what would have become a century later a pillar in the creation of Intesa until when WWI outburst abruptly cut relations between the two countries. Deutsche Bank is back in Italy in the booming Sixties of last century. In 1960 was the lead manager to the capital increase of automaker Fiat and the subsequent flotation of the stock in the Frankfurt Stock Exchange. One year later it makes a similar deal with Olivetti, then a leading firm in the business machine industry. In 1963 acted as co-manager in the first ever Eurodollar issue ($15 million) by motorway state owned operator Autostrade Concessioni e Costruzioni in an innovative deal which made of DB one of the founding fathers of the new debt market. It opened in 1977 in Milan its first representative office which in two year time was upgraded to full branch. In 1986 takes over 100% of Banca d’America, a Naples based lender, which in 1994 was renamed into Deutsche Bank Spa as it was given the full banking license by the Bank of Italy. The same year buys Banca Popolare di Lecco in Northern Italy near Milan. It then spent the Nineties by piling up assets in Italy, from mortgage business Milano Mutui Spa, to Fraer Leasing Spa and Adria Leasing Spa, to a stake in Benetton investment firm 21 Investimenti, to a 20% stake in the co-operative lender Cassa di Risparmio di Asti, up to financial products distributor Finanza & Futuro Banca. In 2002 its Dws Investments unit, a leader in Germany in the asset management industry, expanded through Europe and gave birth to DWS Investments Italy Sgr, devoted both to the retail and institutional clients. The love story of Deutsche Bank with Italy was not just about doing business. In 2007 it opened “DB Collection Italy”, the Italian section of Deutsche Bank Art Collection, making Milan, after Frankfurt, London, New York and Tokyo, the fifth global city to host a permanent DB contemporary art exhibition. DB Italy is headed by since October 1st 2008 by Flavio Valeri

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