The company, which does not have a dedicated UK agency, has recently undergone an internal procurement process that has led to substantial reinvestment in its UK marketing budget.
Initially, the account will not involve TV, and the winning agency will be briefed with creating business-to-business communications as well as press executions to run in financial titles. However, it is thought that the bank may increase investment at a later date to include TV.
In October this year, the company announced that for the first nine months of 2007, pre-tax income was EUR7.3 billion, up 14 per cent on the first nine months of 2006. Net revenues rose 10 per cent to EUR23.5 billion, while net income rose 30 per cent to EUR5.5 billion.
Deutsche Bank was founded in 1870 to support trade relations between Germany, Europe and international markets. It now has 77,950 employees in 75 countries.