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Deutsche Bank (NYSE: DB) announced today that it has hired the former chairman of the Federal Reserve Board, Alan Greenspan. The company released this press release explaining the hiring of Mr. Greenspan. The former chairman will provide ongoing advice and insight to Deutsche Bank's investment banking team.  

Deutsche Bank says that in this advisory role Mr. Greenspan will be speaking at conferences, attending meetings, and taking part in conference calls with analysts and traders. The company says it is excited to bring aboard someone who can bring such unique perspective to each and every economic event.

What does this hire mean to the current U.S. stock market? It is highly likely that this move means very little to the movement of the current stock market. Alan Greenspan has done a lot to move the markets in the past, but in this position it is unlikely that he will be doing a lot of public speaking, so he might actually move the market less than he has been recently.

Greenspan is sure to be an important asset to DB, with his tremendous amount of economic and monetary policy experience, he will be providing DB clients and analysts with information that no other bank may have.