Michael Kennedy Joins Deutsche Asset Management's Insurance Sales Tea

    Business Editors

    NEW YORK--(BUSINESS WIRE)--March 21, 2005--Deutsche Asset Management (DeAM) today announced the appointment of Michael Kennedy as Director and West Coast Sales person for DeAM's Global Insurance Asset Management Group. He will be responsible for expanding and managing DeAM's business development initiatives on the West Coast and establishing client relationships within the region.
    Mr. Kennedy was most recently a Senior Vice President of Marketing at Prime Advisors, Inc. in Kirkland, WA where he was responsible for all aspects of marketing focusing on fixed income portfolios for insurance companies. Prior to joining Prime Advisors, Michael was a Client Executive at Frank Russell Company and Russell/Mellon Analytical Services in Tacoma, WA. He was responsible for generating growth within Asset Management and Index Services and managed a team of six client service personnel to support that growth. From 1997 - 1999, he held the position of Territory Manager for WRQ Incorporated in Seattle, WA, where he managed all sales activities in the New York Region. WRQ is a host-access and network management software company.
    "As DeAM's Insurance Asset Management Group continues to expand its national coverage, we are excited to have Michael join our team of experienced professionals to further create opportunities for our West Coast clients," said Sanjay Yodh, Director and Head of New Business Development for DeAM's Insurance Asset Management Group in New York. "Our continued success within the insurance industry is contingent on the extensive experience of our sales personnel and long-term commitment to provide clients with customized investment programs that fit their needs and consistent investment outperformance."
    Deutsche Asset Management (DeAM) is the global asset management business of Deutsche Bank AG, with AUM of US$730 billion as of 12/31/04. DeAM is one of the world's leading investment management organizations in terms of the quality and breadth of investment products, asset management expertise and client service. DeAM provides asset management capabilities to a variety of clients worldwide including foundations, non-profit organizations, public and private superannuation funds, high-net-worth individuals and retail investors.
    Deutsche Asset Management is the marketing name in the US for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, ,Deutsche Asset Management Inc., Deutsche Asset Management Investment Services Ltd., Deutsche Investment Management Americas Inc. and Scudder Trust Company.

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CONTACT: Deutsche Asset Management Rosalia Scampoli, 212-250-5536 Press and Media Relations

KEYWORD: NEW YORK INDUSTRY KEYWORD: INSURANCE BANKING MANAGEMENT CHANGES SOURCE: Deutsche Asset Management

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