Norbert Walter is chief economist of the Deutsche Bank Group and CEO of Deutsche Bank Research. Prior to this position, he was a professor and director at the renowned Kiel Institute for World Economics and was the John J. McCloy Distinguished Research Fellow at the American Institute for Contemporary Studies at the Johns Hopkins University in Washington, DC. From 1968 until 1971, he was employed at Frankfurt's Institut für Kapitalmarktforschung. Professor Walter is a member of the Committee of Wise Men on the Regulation of European Securities Markets and, since 2007, a member of the Business and Industry Advisory Committee of the OECD (BIAC). He received a Ph.D. in economics from the Johann-Wolfgang-Goethe University, Frankfurt am Main. Professor Walter served as a faculty member at Salzburg Global Seminar Session 294, Economies in Transition: The Role of the Private Sector, in 1992.