Deutsche Bank Boss Proposed for Zurich Board

February 8, 2010

Zurich Financial Services Ltd announced that the Board of Directors will propose to the 2010 Annual General Meeting of shareholders on March 30 the election of Josef Ackermann, 61 and a Swiss national, to the Board of Directors.

Ackermann joined the Management Board of Deutsche Bank in 1996. In 2002, he became Spokesman of the Management Board and Chairman of the Group Executive Committee. He was appointed Chairman of the Management Board in February 2006.

He would fill the seat to be vacated by Philippe Pidoux, who announced at the last annual general meeting that he would not stand for another term.

Zurich Board Chairman Manfred Gentz commented: “My colleagues and I are delighted that Josef Ackermann accepted our nomination. In light of his wide-ranging experience in the international financial services industry, he will be an excellent addition to our Board following the retirement of Philippe Pidoux.”

Ackermann studied Economics and Social Sciences at the University of St. Gallen, and in 1977 – after obtaining his doctorate – he joined Schweizerische Kreditanstalt (SKA). In 1990, Ackermann was appointed to the Executive Board of SKA, becoming its President in 1993.

Source: Zurich Financial Services –

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