# Plan de Pensiones Empleados Deutsche Bank

Plan de Pensiones Empleados Deutsche Bank is a Pension Fund based in Frankfurt, Germany.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Frankfurt, Germany
- **Region:** Europe
- **Address:** Frankfurt, Germany
- **Founded:** 1870
- **Assets under management:** Under $50M (Altss estimate)
- **Website:** https://www.db.com/spain
- **LinkedIn:** https://www.linkedin.com/company/deutsche-bank

## Regulatory record

- **Reports private funds:** No

## About

Launched in 1989, Plan de Pensiones Empleados Deutsche Bank serves as the occupational pension scheme for Deutsche Bank employees in Spain. The plan is promoted by Deutsche Bank, S.A. Española, with portfolio management delegated to Deutsche Zurich Pensiones EGFP, SA — a joint venture between Deutsche Bank and Zurich Insurance Group's Spanish life arm, Zurich Vida. This structure embeds the plan within an institutional insurance-manager framework rather than leaving it as a standalone trustee-directed fund. Spain remains the primary geographic anchor for the underlying bond portfolio, consistent with the liability profile of euro-denominated pension obligations. The plan operates through the umbrella pension fund DB PREVISION 17, F.P., aggregating its assets with other sub-plans for administrative efficiency. The management company, Deutsche Zurich Pensiones, became a signatory to the United Nations Principles for Responsible Investment (PRI) in 2012, aligning the plan's governance with ESG integration standards. In 2024, the firm joined the Eurosif Omnibus initiative, adding its voice to industry advocacy on EU sustainable finance regulation. The plan also holds membership in Inverco, Spain's national association of collective investment institutions and pension funds. Team size and specific investment personnel are not publicly disclosed. The plan's structural differentiator is its embedded insurance-company management model. Unlike independent trustee pensions that hire external asset managers through periodic RFPs, this plan sits permanently under a captive joint-venture manager, creating a stable — if less contestable — governance framework. This architecture is common among Spanish occupational pensions sponsored by financial institutions, where the promoter's existing insurance partnerships absorb the plan's management function rather than creating a separate investment office.

## Sectors

- Fixed Income
- Real Estate
- Commodities

## People

- Deutsche Zurich Pensiones EGFP, SA — Gestora (Management Company)
- Deutsche Bank, S.A. Española — Entidad Promotora (Promoting Entity)

## Questions

### Who manages the investment portfolio for this plan?

Portfolio management is delegated to Deutsche Zurich Pensiones EGFP, SA, a joint venture between Deutsche Bank and Zurich Vida, Compañía de Seguros y Reaseguros, S.A.U. The management company handles day-to-day asset allocation and manager selection within the plan's balanced bond mandate.

### What is the plan's primary investment mandate?

The plan is classified as a Balanced Bond Fund under Spanish pension regulations. This means the portfolio is predominantly invested in fixed-income instruments, with limited allocations to growth-seeking assets. Public records confirm residual exposures to gold and global real estate alongside the core bond holdings.

### Is this plan open to external participants or only Deutsche Bank employees?

This is an occupational pension plan restricted to employees of Deutsche Bank, S.A. Española in Spain. It is a closed system tied to employment at the promoting entity and does not accept contributions from the general public or employees of unrelated firms.

### How are the plan's assets legally structured?

The plan's assets are held within DB PREVISION 17, F.P., an umbrella pension fund vehicle. This structure pools the assets of multiple sub-plans for cost efficiency while maintaining legal segregation of each plan's liabilities and participant accounts.

### What is the plan's approach to ESG and responsible investment?

The management company, Deutsche Zurich Pensiones, has been a signatory to the UN Principles for Responsible Investment since 2012. In 2024, the firm also joined the Eurosif Omnibus initiative, signaling active engagement with EU-level sustainable finance policy and regulatory development.

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/plan-de-pensiones-empleados-deutsche-bank

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