Deutsche Bank makes important promotions in Asia
Deutsche Bank has announced a series of promotions in its corporate bank and securities division in Asia, after Alan Cloete and Gunit Chadha, the bank’s new Asia Pacific chief executives, took their posts last week.
Michael Ormaechea, who was head of fixed income, currency and commodities (FICC) for Asia Pacific and head of markets for Australia and New Zealand, has now been put in charge of equities for the region as well. Since Ormaechea took the role in 2010, the business has consistently ranked number one in the region (by Euromoney) with a market share of more than 20% in foreign exchange, and the commodities business has more than doubled in size, according to an internal Deutsche Bank memo. Now he is expected to apply that same drive to the equities business.
Other promotions include Bhupinder Singh, who has been named head of corporate finance and structuring, having previously been Asia head of structuring and head of the institutional client group across fixed income and equities.
Additionally, Marzio Keiling will take on the role as head of the institutional client group, after being head of global capital markets for Asia-Pacific since 2010.