2004 Media Releases

Deutsche Asset Management Asia Pacific today announced the appointment of Shaun Mays as the CEO of its top-10 ranked Australian investment management business, effective immediately.

“With a deep understanding of the funds management industry, Shaun Mays has more than 16 years of experience in both executive management and investment positions in Australia and the UK. In addition to his traditional asset management expertise, his experience in the property and private equity sectors complements the alternative investment strength of Deutsche Asset Management’s Australian business,” commented James Goulding, Chief Executive Officer of Deutsche Asset Management in the Asia Pacific, in announcing the appointment.

“Shaun’s mandate and strategic focus is to profitably grow our Australian business through continued development of our wholesale footprint, the introduction of new global investments to Australia and building our retail presence,” Mr Goulding continued.

Most recently Shaun Mays was Managing Director of Westpac Financial Services. Other senior positions held by Shaun Mays included Chief Investment Officer of Commonwealth Financial Services, and Managing Director and Chief Investment Officer of Mercury Asset Management.

He is an active member of key institutions including the National Environmental Education Council and Australian Stock Exchange Listings Appeal Committee. Last year he authored a milestone report into corporate sustainability for the Federal Government ("Corporate sustainability: An investor perspective") which investigated the profitability of companies that had incorporated sustainability into their practices.

Shaun Mays was attracted to the Deutsche role primarily because of the organisation’s global strengths. “I believe the most exciting opportunities for the Australian business lie in harnessing the capabilities of the global organisation for the benefit of local investors.”

“A key competitive advantage of Deutsche Asset Management is its product breadth. The Australian business is well regarded for its domestic fixed income and equities capabilities, as well as alternative investments. There is opportunity to introduce new global asset classes to investors, such as quality global equities and fixed income products,” said Mr Mays.

Shaun Mays’ appointment follows the resignation of Ross Youngman, who served as Australian CEO of Deutsche Asset Management since 2002 and has worked for the company locally and internationally for the past 11 years.

“Ross has made an important contribution to the Australian business during his tenure including improving its profitability by refocusing the business model, enhancing the distribution function and broadening the client base. Ross leaves us with our best wishes for the future,” said James Goulding.

Media inquiries:

Kristin Silva
Tel: (02) 9249 9568 / 0411 110 953

About Deutsche Asset Management

Deutsche Asset Management is the global funds management arm of Deutsche Bank, one of the world’s strongest financial institutions. With more than 75 years of investment management experience and operations in over 60 countries, Deutsche Asset Management is one of the world’s largest fund managers, (ranked third by The Financial Times, February 2004). It is a leader, not just in size, but also in quality and breadth of investment products, performance and client service.

In Australia, Deutsche Asset Management manages over A$28.4 billion (as of 31 March 2004) on behalf of locally domiciled clients. We are one of the few fund managers in Australia that combines an established local presence with the resources of a global network and the discipline of a global investment process. We are the only global fund manager operating in Australia with a comprehensive traditional investment offering coupled with a substantial alternative asset business that includes hedge funds, private equity, and real estate. A 250-strong team, including over 60 investment professionals, works from our offices in Sydney, Melbourne and Brisbane.