pencer Head of APAC Research Global Head of Economics Paul Reynolds Head of EMEA Equity Research Andreas Neubauer Head of Research - Germany [Om ho Bank AG Infok.t: I Great Winchester Street London EC2N 2E0 United l( dom GRCM20I7PROD036698 Licuri,:no Ban;, Mainzer 1.3110SIlane 11.17 60329 Frankfur