Ladies and Gentlemen,
2016 was a difficult year for our industry and for Deutsche Bank – a year of uncertainty with a demanding market environment and particular challenges for our bank. In this environment, we have been able to demonstrate how resilient Deutsche Bank is.
We owe this resilience to a large extent to our employees around the globe. We thank them and our employee representatives for their commitment, discipline and hard work in helping to build a better Deutsche Bank – a bank that is attractive as an employer and that provides an environment in which all our people can thrive and create sustainable organizational performance.
Being disciplined in implementing our strategy, and adjusting it where required, remains crucial for sustainable success. Deutsche Bank’s people agenda is critical to this: among others, identifying and implementing lessons learnt ensures that issues of the past do not re-occur in the future. Further enhancements to how we attract, train and retain employees, and changes to how performance is managed, rewarded or sanctioned, are all tangible examples of embedding these lessons.
In 2016, we have also paved the way for Deutsche Bank’s business transformation: the necessary restructuring effort has been a major focus during the year. In our home market Germany and internationally we have made solid progress with the resulting job cuts. A major emphasis of the Human Resources function is to ensure these workforce reductions are carried out in a socially responsible manner. Part of that effort is an increased focus on facilitating internal career mobility and filling vacant roles internally whenever possible, so that employees can be redeployed to parts of the organization where investments are made and additional capacity is required. The bank’s transformation will remain a key priority in 2017.
This report provides key data and insights on these and other HR priorities and programs. A significant number of corresponding change initiatives and investments were made in 2016. Despite numerous challenges, important achievements and good progress against the bank’s strategic aspirations were accomplished. This includes further strengthening Deutsche Bank’s corporate culture as well as achieving enhanced results in diversity and inclusion.
Our people agenda plays a significant part in building a stronger Deutsche Bank, a bank that strives to make a positive impact – for its clients, its employees, its shareholders and for the communities in which it operates.
Karl von Rohr
Member of the Management Board
Global Head of Human Resources
Frankfurt am Main, March 2017