entire - Deutsche Bank Annual Report 2012

Deutsche Bank Report of the Supervisory Board 47
Financial Report 2010
In addition, the Chairman’s Committee and Supervisory Board addressed the implementation of the new regulations
on Management Board compensation at several meetings. For the review of the structure of the Management
Board’s compensation system and of the appropriateness of the variable compensation for the 2010
financial year, the Supervisory Board resolved to engage an independent legal advisor and a compensation
consultant.
Furthermore, at the meeting in October 2010, based on a proposal by the Chairman’s Committee and in
accordance with No. 5.4.1 of the German Corporate Governance Code, we determined the objectives for the
composition of the Supervisory Board (see pages 375 ff. of the Corporate Governance Report in the Financial
Report 2010).
As resolved in October 2009, efficiency reviews on the basis of company-specific questionnaires were carried
out in spring 2010, not only for the Supervisory Board as a whole, but also for the Chairman’s, Audit and Risk
Committees, and the results were presented and discussed in detail at the subsequent meetings. We are of the
opinion that the work of the Supervisory Board is carried out efficiently and that a high standard was achieved in
this context. Suggestions and measures that had been recommended in the previous review of the Supervisory
Board’s efficiency were effectively implemented and led to a further increase in the efficiency of the work
of the Supervisory Board and its committees. In addition, initial suggestions from the efficiency reviews were
already implemented in 2010.
We determined that the Supervisory Board has what we consider to be an adequate number of independent
members. We also determined that all members of the Audit Committee are independent as defined by the
implementation rules of the Securities and Exchange Commission (SEC) issued pursuant to Section 407 of the
Sarbanes-Oxley Act of 2002. Dr. Börsig and Dr. Eick were named as Audit Committee financial experts in
accordance with the regulations of the SEC as well as Sections 107 (4) and 100 (5) of the German Stock Corporation
Act (AktG).
The Declaration of Conformity pursuant to Section 161 of the German Stock Corporation Act (AktG), last issued
by the Supervisory Board and Management Board in October 2009 and updated in January 2010, was reissued
at the meeting of the Supervisory Board on October 27, 2010. Deutsche Bank AG complies, without exception,
with all of the recommendations in the version of the Code dated May 26, 2010.
A comprehensive presentation of the bank’s corporate governance, including the text of the Declaration of
Conformity issued on October 27, 2010, can be found in the Financial Report 2010 on pages 375 ff. and on our
Internet website at http://www.deutsche-bank.com/ir/en/content/corporate_governance.htm. The terms of reference
for the Supervisory Board and its committees as well as for the Management Board are also published
there, each in their currently applicable versions.
Training and Further Education Measures
Members of the Supervisory Board completed the training and further education measures required for their
tasks on their own. Deutsche Bank provided the appropriate support to them in this context. New members
joining the Supervisory Board in 2010 were given orientation individually tailored to their levels of knowledge,
a package of information material and opportunities, for internal and external training, which were widely used.
All of the members of the Supervisory Board were informed of the legal basis of the Supervisory Board’s work
as part of a workshop carried out by an external attorney. Furthermore, another external attorney spoke to