Lee Zhang: at the top of the Deutsche tree
Lee Zhang, Deutsche Bank: wants to go global
Deutsche Bank has promoted a mainland Chinese national to the highest level of responsibility of any foreign bank. Lee Zhang is head of global banking for Asia Pacific and chairman of Deutsche Bank for China. That means he not only oversees all of the bank’s operations for China but M&A advisory, equity capital markets (in an internal joint venture with the global markets team) and transactional banking in 16 countries. When Zhang was given the promotion, some saw it as an elevation in name but not in substance, expecting that he would continue to focus on China and leave it to co-head Jonathan Paul to cover the rest of the region. But with Paul now retired, Zhang has the empire to himself, matching the great ambition he is said to have (some expect him to enter politics).