JACKSONVILLE, Fla. -- Deutsche Bank, in conjunction with the State of Florida and the City of Jacksonville, on Wednesday announced the opening of a major new financial operational center in Jacksonville.

The facility, which is located on South Gate Parkway, will house operational and support teams for Deutsche Bank’s Investment Banking Operations group.

The bank expects to employ 400 staff at the facility by year-end 2008, with 1,000 employees by the end of 2011.

Jacksonville Mayor John Peyton and Keisha Rice, Deputy Director for the Governor’s Office of Trade, Tourism and Economic Development (“OTTED”), presided over a formal ribbon-cutting ceremony at the site on Wednesday along with the Head of the Bank’s new Jacksonville office, John Lafond, and Chief Operating Officer of Deutsche Bank Americas, Stuart Clarke.

“One of the primary focuses of this government is recruiting stable, high-wage jobs for the residents of Jacksonville and I am proud that Deutsche Bank has chosen our city to expand their U.S. operations,” said Peyton. “Attracting such a well-respected, global company to our city is a significant accomplishment, especially in these difficult economic times. The addition of these nearly 1,000 jobs will provide tremendous opportunities for our residents and also serve as a catalyst for even more job growth within the financial sector.”

“We are very excited to open this facility and look forward to a promising future here,” said Lafond. “We would also like to applaud Gov. Crist’s and Mayor Peyton’s teams and the Jacksonville Regional Chamber of Commerce for their commitment to economic development and for making this a seamless process for us. We have enjoyed a warm welcome from state and local officials and from the community, which has reinforced our decision to make Jacksonville the new home for this Global Operations Center.”

Integral to the bank’s selection of Jacksonville were awards from the state and city, including training and tax incentives.

In keeping with its commitment to support the communities where it operates, the Deutsche Bank Americas Foundation also announced two grants in the Jacksonville area: Volunteer Jacksonville and the Clara White Mission.