P&M: Deutsche unveils Asian management team
Deutsche Bank’s newly anointed Asia Pacific chief executives have unveiled an expanded management team for the region. The 20-strong executive committee, chaired by co-CEOs Alan Cloete and Gunit Chadha, includes a number of internal promotions, and follows the announcement of a global executive committee for the bank’s new corporate banking and securities business unit last Friday.
Monday’s announcement also confirms there will be no direct replacement for Boon-Chye Loh, who retired in March as head of corporate and investment banking for Asia Pacific.
Since then, Deutsche has split its former corporate and investment bank into CB&S and global transaction banking. Within CB&S, the key roles go to Bhuphinder Singh, Michael Ormaechea and Marzio Keiling.
Singh has been promoted to head corporate finance and structuring for Asia Pacific. He was most recently in charge of Asian sales across debt and equity as head of the institutional client group, as well as structuring. As head of corporate finance, he will run corporate coverage, capital markets and investment banking.
Ormaechea, former head of fixed income, currency and commodities for Asia Pacific, becomes head of FICC and equities for Asia Pacific. Ormaechea has run Deutsche’s markets business in Australia and New Zealand since 2006.
Both Ormaechea and Singh will also sit on the global CB&S executive committee, chaired by Colin Fan and Robert Rankin.
Keiling, who was head of global capital markets for Asia Pacific, will head the institutional client group for the region.
Rates specialist David Lynne has also been promoted to head of global finance, foreign exchange, rates and commodities for Asia.
The remaining members of the Asia Pacific ex-com will be: Chandra Mallika, COO; Lisa Robins, head of global transaction banking; Ravi Raju, head of private wealth management; Boris Liedtke, head of asset management; John Macfarlane, executive chairman and chief country officer for Australia & New Zealand; Henry Cai, chairman of corporate finance for Asia; David Hatt, president and CEO for Japan; Robert Vogtle, Asia Pacific CFO; Karen Bell, head of group technology & operations; Noel Hadden, head of human resources; Joe Longo, general counsel for Asia, Andrew Hume, head of compliance; Vincent Choo, chief risk officer; Michael West, head of communications. All cover Asia Pacific, unless otherwise specified.