NEW YORK, August 28 /CNW/ - Deutsche Bank Securities Inc. today announced
that it has fully obligated its $2 million commitment to relief and recovery
efforts for the city of New Orleans. As part of its initiative, Deutsche Bank
extended over $500,000 in awards to thirteen community leaders through its New
Orleans Neighborhood Development Initiative. This program was created to
strengthen neighborhood-based nonprofits in their efforts to build affordable
housing and restore vitality to severely damaged communities in New Orleans.
Recipients include: A Shared Initiative, Inc.; Jericho Road Episcopal;
Broadmoor Development Corporation; NHS of New Orleans; New Orleans
Neighborhood Development Collaborative; Lower 9th Ward Neighborhood
Empowerment Network Assn; Preservation Resource Center of New Orleans; Puentes
New Orleans; Neighborhood Development Foundation; COFFEE, Inc.; Mary Queen of
Viet Nam; Louisiana Association of Nonprofits; Providence Housing.
Deutsche Bank has also previously extended committed support for a number
of emergency relief and rebuilding efforts. Initially the bank provided
$500,000 in combined support to the William J. Clinton Foundation and the
United States Fund for UNICEF to help those most vulnerable to the flooding
and devastation. Another major commitment of $200,000 was made to Living
Cities, a partnership of financial institutions, private foundations and
federal government agencies that work to improve America's urban
neighborhoods. In addition, Deutsche Bank issued a number of grants designed
to preserve New Orleans unique cultural heritage and seed the economic
recovery of many affected small business.
"New Orleans has both unique challenges in recovering from the
devastating impacts of hurricanes Katrina and Rita," said Gary Hattem,
President, Deutsche Bank Americas Foundation. "We are hopeful that the bank's
support can facilitate on-the-ground efforts to bring the community closer as
they begin the recovery process."
Deutsche Bank (NYSE: DB) is a leading global investment bank with a
strong and profitable private clients franchise. A leader in Germany and
Europe, the bank is continuously growing in North America, Asia and key
emerging markets. With 75,140 employees in 75 countries, Deutsche Bank
competes to be the leading global provider of financial solutions for
demanding clients creating exceptional value for its shareholders and people.
Deutsche Bank Securities Inc., member NYSE, NASD and SIPC, is the
investment banking and securities arm of Deutsche Bank AG in the United
For further information:
For further information: Deutsche Bank Press and Media Relations Scott
Helfman, 212-250-5602 or Ted Meyer, 212-250-7253