Former Fed Chief Greenspan to Advise Deutsche Bank

Monday, 13 Aug 2007 | 4:58 AM ET

Deutsche Bank said Monday that it is bringing in former U.S. Federal Reserve Chairman Alan Greenspan as an advisor to its investment banking unit.

Greenspan, 81, stepped down at the beginning of 2006 as Fed chairman, a post he held since 1987. He was replaced by Ben Bernanke.

He will serve Deutsche Bank as a senior advisor "to provide ongoing advice and insight to Deutsche Bank's investment banking team," the bank said in a statement.

Greenspan's "position as one of the architects of the modern financial system gives him a unique perspective from which to help our clients make critical risk management decisions," Deutsche Bank Chief Executive Josef Ackermann said.

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