Published: July 10, 2012
Bank announces several new appointments around the world.
Deutsche Bank has made several appointments in its global transaction banking (GTB) division that it hopes will position the bank well for further growth.
The bank has appointed four regional heads in its trust and securities services and cash management for financial institutions business (TSS / CMFI).
Discussing the new roles with EMEA Finance, Satvinder Singh, Deutsche’s global head of TSS/CMFI, said clients looking to buy several services and products from the bank will benefit.
"As client buying behaviour and expectations are changing, clients require us to bring the organisation to them rather than provide them with individual products," he said. "Clients require coordination and understanding of the overall relationship, as well as the ability to think outside of one product or one country."
Sriram Iyer will take on the role for Central and Eastern Europe, the Middle East and Africa, while retaining his role as GTB head for MENA. Gary Vaughan will assume the role in the Americas, as well as continuing as co-head of Americas corporate trust for the bank’s trust and agency services business.
Mrugank Paranjape will take the regional role in Asia, continuing as direct securities services head of Asia Pacific, while Jose Sicilia, the bank’s head of EMEA corporate trust in the trust and agency services business, will become TSS/CMFI head in Western Europe.
Meanwhile, Mike Hughes has been appointed to the newly created role of global head of funds services, continuing as GTB country head for the UK, Channel Islands and Ireland. Edwin Reyes will head the newly combined depositary receipts and transferable custody receipts offering, and Daire McCormack takes the newly created role of global head of escrow solutions.
Singh added that he was happy to be able to make the appointments from within the group. "We were keen to look at the talent pool within the business," he said. "These new regional heads have proven themselves during their tenure at Deutsche Bank and represent the best candidates for these positions."