icm deutsche bank dfb by 38F4ivIP


									“A passion to perform”
Group 0011

Table of contents

1.         Introduction ___________________________________________________________ 3
2.         General information about Deutsche Bank __________________________________ 4
     2.1       Company culture ________________________________________________________ 4
     2.2       Communication _________________________________________________________ 5
     2.3       Employees _____________________________________________________________ 5
     2.4       Taking care of the world _________________________________________________ 5
3.         Interview _____________________________________________________________ 6
     3.1       Corporate structure (hierarchy and communication lines) _____________________ 7
     3.2       Managers role/ style _____________________________________________________ 7
     3.3       Decision making process __________________________________________________ 7
     3.4       Dealing with initiatives and mistakes _______________________________________ 7
     3.5       How to implement one global company culture all over the world _______________ 8
     3.6       Recruitment & Training__________________________________________________ 8
     3.7       Ralf Rudolf ____________________________________________________________ 8
4.         Conclusion ____________________________________________________________ 9
5.         Teamwork reflection ___________________________________________________ 10
     5.1.      Introduction ___________________________________________________________ 10
     5.2       The first impressions____________________________________________________ 10
     5.3.      How the process has been developping… ___________________________________ 11
     5.4.      … and where we are now ________________________________________________ 12
     5.5.      To Conclude___________________________________________________________ 12
Attachments ______________________________________________________________ 13
     Attachment 1.      History of Deutsche Bank _______________________________________ 14
     Attachment 2.      Corporate structure____________________________________________ 16

Deutsche Bank                                                                     Page 2 of 16
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1.            Introduction

In this report there will be given an overview of the Deutsche Bank and an interview with
Ralf Rudolf, Director; Head of Graduate Recruitment & Training Germany.

This report focuses on the cultural aspect of the Deutsche Bank. The company works all over
the world, so the students were lucky to have been given the opportunity to visit such a

We would like to give our regards to all the teachers whom have given us a marvellous time
in Aschaffenburg. This experience is an experience for a life time.

Members of the team 0011 are:

Karttunen                    Janne
Koster                       Robin
Pauwaert                     Joke
Seifried                     Mario
Wertheim-Huszár              Zoltán

Deutsche Bank                                                                    Page 3 of 16
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2.               General information about Deutsche Bank

In this chapter their will be given some general information about the Deutsche Bank.

2.1              Company culture

The Deutsche Bank thinks very highly about culture in general. The company strongly
believes in corporate values and they think culture stands for the commitment to the society.
A slogan from the Deutsche Bank is “learning from cultures”, so they want to show everyone
that they are open and care about other cultures and individuals.

The culture is also shown in the mission of the cooperation, which is:

“We compete to be the leading global provider of financial solutions for demanding clients
creating exceptional value for our shareholders and people.“

The following corporate values are related with the mission of the Deutsche Bank:

         Performance
          The Deutsche Bank is committed to a result oriented culture;
         Innovation
          The Deutsche Bank is constantly challenging conventional wisdom and developing
          new solutions to meet customer requirements;
         Customer focus
          The Deutsche Bank places customers at the centre of their activities and they drive all
          what has to been done;
         Teamwork
          The Deutsche Bank benefits from the diversity of their people and their business by
          working together to achieve success;
         Trust
          The Deutsche Bank behaves reliably, fairly and honestly.

                                                        (source: http://career.deutsche-bank.com)

It is the aim of the company to earn the trust of the customers by working according to the
above standing values. With these beliefs the Deutsche Bank is trying to create a long-term
relationships with the customers. Mutual understanding is very important in this process and
understanding each other is all about communication

The culture of the company developed over the years, for an overview of the history please
take a look at attachment 1.

Deutsche Bank                                                                        Page 4 of 16
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2.2            Communication

Because communication is very important we will shortly describe it.

The definition of communication is:

“Exchange of information”

                                                                      (source: www.vandale.nl)

In this report we will focus on exchange of information on interpersonal level. An important
part of communicating is non verbal communication. A person can never, not communicate,
because body language always speaks.

Communication skills can be Intra-personal, Inter-personal and Intercultural. An example of
Intra-personal skills is how a person presents and thinks about other people and nations. Inter-
personal skills are between people and Intercultural is about understanding other nations.

2.3            Employees

The Deutsche Bank has approximately 66.000 employees all over the world. The bank serves
more than 13 million customers in more than 74 countries (more than 50% of the staff work
outside Germany). So the company has to deal with many different points of view and other
ways of behaviour. This is one of the main reasons the Bank invests a lot of time and money
in education for their employees. They believe that if you want to keep up with the fast
moving current global society, education is a must.

There will be more information about the employees and education on the next pages.

2.4            Taking care of the world

Usually banks are seen as money making machines. Deutsche Bank tries to make the
company image softer for all interest groups. Personnel has an opportunity to get services e.g.
kindergartens near the company facilities or the opportunity to work more comfortable (job
sharing). This is also an example of a creative way to lead peoples.

They support culture and take part in a social environment. They want to be seen as a good
corporate citizen. They have established several foundations all over the world. Their idea is
to give some money back to the people.

Deutsche Bank                                                                      Page 5 of 16
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3.             Interview

The interview took place in Frankfurt at the headquarters of the Deutsche Bank, with Mister
Ralf Rudolf, Director; Head of Graduate Recruitment & Training Germany.
After getting acquainted and a soft drink, Mister Rudolf started a presentation. During the
presentation it was possible to interrupt and ask questions. So, more or less the interview was
held during the presentation.
Mister Rudolf had a very inspiring and convincing way of speaking. Also because of this, the
group asked a lot of questions during and after the presentation. The interviewers had really
good and open discussions with Mister Rudolf, and because of the good atmosphere Mister
Rudolf invited the group to a bar after the presentation/ interview. This was very good for the
development and the network of the students. To talk with someone who has the experience
like Mister Rudolf is a very good education.

During the presentation and the questioning, answers with regard to the following subjects
were found:
        Corporate structure (hierarchy and communication lines);
        Managers role/ style;
        Decision making process;
        Dealing with initiatives and with mistakes;
        How to implement one global company culture all over the world;
        Recruitment & Training.

One the next page the point above will be described.

Deutsche Bank                                                                      Page 6 of 16
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3.1            Corporate structure (hierarchy and communication lines)

The corporate structure is combined by tree committees, the group executive committee, the
divisional committees, the regional management committee and several functional
committees. The group executive committee is the leading committee for the others. Relations
are shown in attachment 2 (corporate structure). The same table shows also the
responsibilities of the operational level and of the strategically thinking level.

This way of thinking and working has made the communication among the employees easier.
Communication in corporation could be described to be transparent. So that everyone is able
to reach all required information on all times. Their ideology is to be open for every

3.2            Managers role/ style

The main role of the manager is to take care of the people whom he is responsible for. He has
to be a mentor and he has to motivate the employees. The manager is also responsible for the
development of individuals. He has to recognise the needs for development. At the Deutsche
Bank they try to realise this by an individual mentor system. A manager chooses persons
whom he will guide during a couple of years. Deutsche Bank has chosen this method, because
they want a close feeling with all employees. Everyone is important and should feel

3.3            Decision making process

Decision making process depends on who and what decision concerns. Most important
decisions are made in committees on their own special area of expertise. (see attachment 2 on
corporate structure) Mostly, decisions at least the most important ones, are made in consensus
inside the committee. There also is a lot of freedom for decision making. The responsibilities
are low in the structure, so everyone feels that they are important and have a meaning.

3.4            Dealing with initiatives and mistakes

At the current point it is very normal that employees think before they do. It is alright if a
person makes a mistake.

In the old days there was no space for mistakes. This period was before Deutsche Bank was
operating in the multinational environment. Nowadays they have imported the ideology from
the USA, that mistakes are allowed. This is a remarkable improvement. Employees are now
showing more initiative and are not afraid anymore to be punished when they make a mistake.

Deutsche Bank                                                                         Page 7 of 16
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3.5            How to implement one global company culture all over the world

When the Deutsche Bank tries to conquer a new market in a new country, they simply buy a
part of the market. So they buy a company that already works on the market. They buy a
company with an own culture and own values. You can imagine that it is hard to implement
one company culture and the same values all over the world.
Deutsche Bank tries to create one culture through exchanging experience and educating the
employees all over the world.
Before they take over a company in an unknown country, they gain information about the
company and especially the companies’ culture from local people/ experts. So, they try to get
inside information.
In conclusion there can be said that Deutsche Bank implements one culture all over the world
by listening and learning from each other and by educating all employees in a similar way.

3.6            Recruitment & Training

The Deutsche Bank has a very clear point of view about the people they want to recruit.

Skills that are required to work in Deutsche Bank can be divided in tree categories. Those are
experience (work, education, international), interpersonal skills (soft skills, mobility,
specialized qualities) and language skills. Official language of Deutsche Bank is English, but
local languages are mostly required as well to operate e.g. in Germany.

Because Deutsche Bank is operating in an international environment that is changing rapidly,
training is an important way to adjust. Training and learning start from day one (or even
before) and continues through the whole career. In the first few years it is a very hard, active
part of the job. Employees must get experience with operating in other cultures and they have
to learn how to adjust as a person. In relation with this, language skills are also very

3.7            Ralf Rudolf

We would like to give our regard to Mister Ralf Rudolf and thank him for sharing personal
experiences. We would also like to thank the Deutsche Bank and the time they gave us.

Deutsche Bank                                                                      Page 8 of 16
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4.            Conclusion

In this report Deutsche Bank is described as a very modern company, which takes care of
employees as well as the social environment which they are part of. Also in many occasions,
Deutsche Bank can be seen as very creative, international company. The Deutsche Bank
considers itself only as a brand, as a mix of banking cultures. They are trying to do this by
listening and learning from each other. They are trying to create a common known company
image all over the world, by their slogan “A passion to perform”.

Deutsche Bank                                                                     Page 9 of 16
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5.             Teamwork reflection

5.1.           Introduction

To give you a sense about how our group process was, we decided to give you an impression
about how we felt about our first meetings, how we started to meet, and everybody realized
how our process can continue and how it finally continued.

5.2            The first impressions

Joke (Belgium): At first she was very curious to get to know the others. She already met
Janne the day before, so getting to know each other was not a problem. She wanted to talk to
the others from the first moment on because she is quite social. Her first impression was very
positive, and she was happy with ´her´ boys.

Mario (Germany): He was the only German who came from Aschaffenburg, so he neither
knew the Germans, nor the others. His feeling was a little bit uncertain and he also thought
that his English was not that good. We can say that he felt a bit anxious about what this
programme would be like, and especially how the team would be. After having met the
others, he realized that they are really communicative and that they tried to speak with him
and showed interest. Moreover he found out that the others might have a good character.

Zoli ( Hungary): He thought that his English would be the worst in the team, and he was
afraid to speak. He felt a little bit bad, because he found it hard to get into the discussion at
the first time and a part of his culture was that you must not disturb others while speaking. He
had the impression that the rest were nice persons.

Robin (Netherlands): His first impression was that we were all different personalities.
Although we did not know each other yet, but he felt like this could be a good team. Robin
considered Joke as being spontaneous, but that Zoli was rather shy. He knew Janne already
from the day before and he thinks Janne is an open and relaxed person. Despite the fact that
he did not know Mario yet, he had the impression that he is a well-organised, structured,
typical German.

Janne (Finland): Janne felt quite lucky the first day, because he had already met Robin, Joke
and Mario, so half of the team was not new for him anymore. He was a bit afraid that he
would have all the ´leftovers´ in his team, because we were almost the last team. He certainly
did not have bad feelings after the first meeting. He felt mostly comfortable, but at first he
was rather slient. He thinks that this is rather cultural. He always tries to listen first and to
speak afterwards, although this has changed by now.

Deutsche Bank                                                                      Page 10 of 16
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5.3.           How the process has been developping…

At the first meeting we had to work together, Robin and Joke talked a lot, the rest of the group
was rather quiet. While doing the task about cultural dimensions we were chatting a lot. At
the beginning we didn´t realize that there were cultural differences, and it seemed like we
were all the same. With testing our cultural assumptions we came more and more in
discussion, without answering all the questions.

For example the statement nr. 9 „Employees should not disagree openly with their boss“, we
found out that especially the Fins do not interrupt others before somebody finishes his speech.
So we now understand why Janne didn´t say so much and that Zoli had quite the same feeling.
We noticed that we would have to keep in mind this difference, so that everybody could join
the discussion. Because Robin tries to get everybody into the discussion, and Joke is quite
social, everybody found that he could bring something into the discussion, speak up his mind
and was not afraid to say something.

We enjoyed the session about Team Roles a lot, because we found out that all of us are great
team players. We have all kind of different ´team role´s´ in one group, it´s like the perfect
match! More and more it seemed that we would have a great time together. Everybody likes
to work, no lazy-bones in our team. We got the feeling that we could trust and rely on each
other, so we enjoy working together.

The film we saw in the lesson „Communication between Culture“ brought us again into lively
discussions. It was really good to think more about our differences, and about differences
between other cultures that are not represented here. So we got a keen sense of other cultures.
It was again a great opportunity to get to know each other better.

Mario had at the beginning a bit problems with Robin that was to talkative and to extrovert.
He didn´t want to talk all the time and Robin understood that. Mario talked more, Robin a
little bit less. Our Finish fellow now realised that he had to interrupt us, so he tried to did it
more and could better join the conversation. As soon as our Hungarian realized that Fins are
able to interrupt, he also decided to give it a try. He became more social and talkative and our
discussions lasted even longer. Let´s say that there was no time left to sleep because we
discussed day and night. Everybody wants to talk a lot and share his ideas with the others, so
we had great conversations.

How good our team worked could also be seen during the survival game. We had a lot of fun
(and snow) and good ideas to solve the problems. Again we realized that we were great
teamplayers. We wanted to prolong our sessions and discussions, so we decided to go out.
Our German and Finish boys had a great time and talked for hours, drinking beer and talked
about everything and nothing. Our Hungarian friend started to train for his beautiful headache
and the Fin told us some Finish jokes.

Very important for our group was task to create a flag. It was interesting that we decided to
make a flag that does not emphasize our national aspects, but the idea of being open-minded.
That was the basis that all of us got a lot of ideas. It was very important for all the group

Deutsche Bank                                                                       Page 11 of 16
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members that we had something in common, an own new culture. It was the first that Zoli felt
that his opinion was really constructive and we could state that this idea of ´being open to
others´ really brought us together as a team.

The country presentations were another opportunity to get a deeper knowledge of every
country. They also helped us to understand each other better.

Because we trust each other and know each other good, our strategy during the negotiations
exercise worked quite well. We took the right decision in what order we would take part in
the negiation process. In the discussion we could see that the negotiation happened as we
expected it before.

5.4.          … and where we are now

A good example of how good we understand each other was the trip to Frankfurt to prepare
our presentation about the Deutsche Bank.

Instead of only going there to work, we decided to go to the city before the interview, for
sight seeing, drinking coffee and spending time together. After the appointment we went to a
bar to drink something and to chat. It was an advantage that Mario knows the city very well,
so we had a perfect tourist guide. We enjoyed our stay so much that we even went to eat
something, and had a very nice evening at an Italian restaurant. We all feel that we had a very
nice day.

5.5.          To Conclude

None of us ever had the feeling that he (she) was not integrated in the group. We think that
this is a good proof that we had a really good team and we are proud that we were able to
manage a combination of five different cultures in such a good way. Although we started with
different nationalities, we found a way to speak the same language.

Deutsche Bank                                                                    Page 12 of 16
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Deutsche Bank   Page 13 of 16
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Attachment 1.                History of Deutsche Bank

Under the Empire (1870-1918)

1870                Deutsche Bank founded in Berlin
1873                Branch in London
1886                Opening of Frankfurt branch
1892                Opening of Munich branch
1901                Branches in Leipzig and Dresden
1905/06             Branches in Nuremberg and Augsburg
1909/10             Branches in Istanbul and Brussels
1914                Merger with Bergisch Märkische Bank

In the Weimar Republic (1919-1932)

1920                Merger with Hannoversche Bank, Braunschweigische Bank and
                    Privatbank zu Gotha.
1924/25             Merger with further regional banks
1926                Participation in the founding of Lufthansa and Daimler-Benz
1929                Merger with Disconto-Gesellschaft
1931/32             Banking crisis in Germany

Under the third reich (1933-1945)

1937                The company's name reverts to "Deutsche Bank"
1941                Participation in South east European banking
1942                Majority holding in Creditanstalt-Bankverein, Vienna
1942/43             Closure of branches due to war (82 branches and 54 sub-branches)
1945                Closure of head office in Berlin and of all branches in the Soviet-
                    occupied zone. Deutsche Bank is run by its Hamburg management

Reconstruction (1946-1957)

1946/47             The American military government (OMGUS) investigates Deutsche
1947/48             In the Western zones of occupation, Deutsche Bank is split into ten
                    autonomous institutions
1949                In Berlin, Berliner Disconto Bank AG is established as successor
                    institution to Deutsche Bank.
1952                The ten successor institutions are combined to form three joint-stock
1957                Deutsche Bank reconstituted

Deutsche Bank                                                                 Page 14 of 16
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Internationalisation (1958-1988)

1958                First foreign bond since 1918
1959                Deutsche Bank gets into retail banking
1963                Start of club-banking
1967/68             The member banks of the European Advisory Committee set up Banque
                    Européenne de Crédit à Moyen Terme in Brussels as well as European-
                    American Banking Corporation and European-American Bank & Trust
                    Company in New York.
1970                Foundation of Compagnie Financière de la Deutsche Bank in
                    Luxembourg, the precursor of today's Deutsche Bank Luxembourg S.A.
1973                Representative offices opened in London and Moscow
1976/77             Branches in London, Tokyo and Paris
1978/79             Investment banking in New York
1985                Foundation of investment banks in London and Hong Kong
1986/87             Acquisition of Banca d'America e d'Italia.
1988                Branches are opened in 12 more countries in Asian-Pacific region.

Becoming a global player (1989-2004)

1989                Acquisition of Morgan Grenfell Group
1990                Deutsche Bank operates in East Germany
1991                All U.S. activities merged under the holding company Deutsche Bank
                    North America Holding Corp
1992                Majority acquired in Deutscher Herold insurance group.
1993                Acquisition of banks in Spain and Italy
1994                Acquisition of Sharps Pixley Group (metal trading)
1995                Deutsche Bank Polska S.A. opens in Warsaw
1996                First banking shops introduced in supermarkets
1997                Acquisition of a trust bank in Japan
1998                Acquisition of Crédit Lyonnais Belgium
1999                Acquisition of Bankers Trust
2000                Deutsche Bank invests vigorously in e-commerce.
                    Cancellation of the planned merger with Dresdner Bank.
2001                On October 3, trading in the Deutsche Bank share starts on the New
                    York Stock Exchange
                    In November, the three large German banks Deutsche Bank, Dresdner
                    Bank and Commerzbank merge their mortage bank subsidiaries
                    Eurohypo, Rheinhyp and Deutsche Hyp into Eurohypo AG to become
                    the largest mortgage bank in Germany.
2002                With the acquisition of Scudder, Deutsche Bank becomes the fourth-
                    largest asset manager in the world with leading positions in Europe,
                    Asia and America
2003                Deutsche Bank acquires the Swiss Private Bank Rued Blass & Cie from
                    Zurich Financial Services

Deutsche Bank                                                              Page 15 of 16
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Attachment 2.                    Corporate structure

                                   Functional Committees

     Alternative Assets           Asset/Liability                   Compliance                      Finance

    Human Resources                Investment                      IT & Operations                    Risk

                Group Executive Committee
                                                  Group Board
                                            Business Heads / Regions

                                   Divisional Committees

                Corporate and                                                        Private Clients and
                                                Corporate Investments
               Investment Bank                                                       Asset Management

                                       Regional Management Committees

Deutsche Bank                                                                                       Page 16 of 16

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