UPDATE 2-Deutsche enlists Greenspan for banking advice

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LONDON, Aug 13 (Reuters) - Deutsche Bank AG (DBKGn.DE) has enlisted former Federal Reserve Chairman Alan Greenspan to provide economic and financial insights to its investment bank and clients on a range of issues affecting markets.

Greenspan retired last year after nearly two decades at the helm of the Federal Reserve, during which time his name became nearly synonymous with the powerful board.

"Dr. 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," said Josef Ackermann, chairman of Deutsche Bank's management board and its group executive committee.

Greenspan, 81, now runs his own consulting firm, Greenspan Associates.

The deal with Deutsche Bank is an exclusive one, meaning Greenspan will not work with any other investment bank. Deutsche Bank and some of its rivals have been trying to retain Greenspan since he retired from the Fed.

"This is a unique chance to provide exclusive insight to our clients," a Deutsche Bank spokesman said. "It's something that can't be replicated by any other firm."

Financial terms of the agreement were not disclosed, and the duration of the contract was not immediately available.

Greenspan will speak at various bank conferences and analyst meetings, and on conference calls with some of its clients, analysts and traders.

He will steer clear of issues related to Deutsche's asset-management arm to avoid any conflicts with an already established relationship with Pacific Investment Management Co., a unit of Allianz SE (ALVG.DE).

((Reporting by Jeffrey Goldfarb and Lilla Zuill; editing by Will Waterman and Erica Billingham; +1 646 223 6000; Email: Lilla.Zuill@reuters.com)) Keywords: DEUTSCHE GREENSPAN/

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