entire - Deutsche Bank Annual Report 2012

Deutsche Bank 02 – Consolidated Financial Statements 271
Financial Report 2010 Notes to the Consolidated Balance Sheet
24 – Goodwill and Other Intangible Assets
Primary cashgenerating
unit Description of key assumptions
Corporate Banking
& Securities
Global Transaction
Banking
Asset Management
- Cost savings in light of Group-wide
infrastructure efficiency increase and
Complexity Reduction Program
- Successful integration of the investment
bank
- Robust, possibly increasing trading
volumes and margins
- Focus on flow products and benefiting
from leading client market shares
- Increased focus on EM Debt,
commodities and electronic trading
- Corporate Finance fee pools continue to
recover
- Cost savings in light of Group-wide
infrastructure efficiency increase and
Complexity Reduction Program
- Capitalize on synergies resulting from
CIB integration
- Stable macroeconomic environment
- Interest rate levels
- Recovery in international trade volumes,
cross-border payments and corporate
actions
- Deepening relationships with Complex
Corporates and Institutional Clients in
existing regions while pushing further
growth in Asia
- Successful integration of parts of ABN
AMRO’s corporate and commercial
banking activities in the Netherlands
- Cost savings in light of Group-wide
infrastructure efficiency increase and
Complexity Reduction Program as well as
re-engineered AM platform
- Market appetite to regain prior year
losses stimulating alternative assets
investments
- Growing allocations into alternative
assets
- Continuing recovery in equity and real
estate markets
- Ongoing growing wealth in emerging
economies and Sovereign Wealth Funds
- Ongoing shift from state pension to
private retirement funding and benefiting
from product innovation
- Outsourcing of investment management
mandates by insurance companies
- Increased interest and appetite for
Climate Change investments
Management’s approach to determining the
values assigned to key assumptions
- The key assumptions have been based on
a combination of internal and external
studies (consulting firms, research)
- Management estimates concerning CIB
integration and cost reduction program are
also based on progress made to date
across various initiatives
- The key assumptions have been based on
a combination of internal and external
sources
- Macroeconomic trends are supported by
studies while internal growth plans and
impact from efficiency initiatives have
been based on management/high level
business case assumptions
- Equity Markets growth assumptions are
based on internal studies from DB
Research
- Other business growth and efficiency
assumptions are based on business
management input validated by internal
independent function
- Platform cost reductions are derived from
analysis of competitors and trend
analyses within PCAM
Uncertainty associated with key assumption and
potential events/circumstances that could have a
negative effect
- Uncertainty around regulation and its
potential implications not yet anticipated
- Unforeseen macroeconomic environment
leading to slowdown in activity
- Attrition and loss of key talent in certain
sectors and resurgence of competition
- Cost savings are not achieved to the
extent planned
- Unexpected weak recovery of the world
economy and its impact on trade volumes,
interest rate and foreign exchange rates
- Delay in implementation of efficiency
measures
- Uncertainty around regulation and its
potential implications not yet anticipated
- Reoccurrence of market volatility
- Investors continue to retreat to cash or
simpler, lower fee products
- Cost savings are not achieved to the
extent planned