Deutsche Bank today announced its appointment as the successor depositary bank for the Level II American Depositary Receipt (ADR) program of Siemens Aktiengesellschaft (Siemens).
Siemens is a global leader in electronics and electrical engineering. Its business activities in its Sectors Energy, Healthcare, Industry, and Infrastructure & Cities have made it a global market and technology leader. In fiscal 2011, Siemens’ roughly 360,000 employees worldwide generated revenue from continuing operations totaling approximately €74 billion and income from continuing operations of €7 billion.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank, said, “Winning the depositary mandate for the Siemens’ ADR program represents significant recognition of Deutsche Bank’s excellent client servicing capabilities from one of the most prestigious global companies. We look forward to supporting the company in maintaining its profile with the international investor community. This transaction represents Deutsche Bank’s 6th ADR mandate for a DAX30 company over the past two years.”
*Source: Siemens AG (February 2012)