DEUTSCHE BANK AG 
He died after a long illness at the age of 86 surrounded by his family, Germany's largest financial institution announced in Frankfurt on Thursday. Deutsche Bank CEO Christian Sewing paid tribute to Breuer as an old-school banker with a classic appearance and enormous strategic vision. "The large customer segment and international business were particularly close to his heart because he saw them as the basis for a strong German economy." Both areas were significantly strengthened during his time. "On behalf of all employees and on behalf of the Executive Board, I would like to express our deepest sympathy to his wife and family," explained Sewing.
Born in Bonn, Breuer had learned finance from the bottom up at Deutsche Bank. After graduating from high school, he completed a banking apprenticeship in Mainz and Munich. He then studied law in Lausanne, Munich and Bonn. In 1967, he received his doctorate from the university in his home town. He gradually climbed the career ladder at Deutsche Bank, starting in the stock exchange department. In 1985 he was appointed deputy member of the Management Board and in 1987 full member. Ten years later, he took over as CEO of Germany's largest bank, succeeding Hilmar Kopper. His term of office ended in May 2002 and he was succeeded by Josef Ackermann. Breuer then headed the bank's Supervisory Board from 2002 to 2006.
During his time in office, Breuer turned the bank upside down and gave it a more international focus - particularly in investment banking. In November 1998, he surprisingly announced the purchase of the seventh largest US investment bank, Bankers Trust, for almost ten billion euros. In October 2001, Deutsche Bank shares were listed on the New York Stock Exchange. "The importance of Rolf Breuer for Deutsche Bank cannot be overestimated," explained Alexander Wynaendts, Chairman of the Supervisory Board. With the acquisition of Bankers Trust, Breuer had made a significant contribution to Deutsche Bank's ability to assist its clients worldwide in all financial matters and to have the necessary global network and expertise.
Breuer's time in office also included a TV interview at the beginning of 2002 in which he expressed doubts about the financial situation of the then Munich-based media entrepreneur Leo Kirch. The statements on the creditworthiness of the Kirch Group, which ultimately slipped into insolvency, were followed by lengthy legal repercussions. He will also be remembered for his strong commitment to the banking location, which once earned him the title of "Mr. Financial Centre Germany". Deutsche Bank recalled in its press release that this was reflected in various offices. For example, Breuer was Chairman of the Supervisory Board of Deutsche Börse as well as initiator and member of the Executive Board of the Financial Center Action Group. He also played an important role in the founding of the Center of Financial Studies at Goethe University Frankfurt.
(Report by Frank Siebelt, edited by Olaf Brenner. If you have any queries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
