Varma will be responsible for leading DeutscheÆs sales and trading businesses in India. He will report locally to Gunit Chadha, CEO of Deutsche Bank in India, and regionally to Loh Boon Chye, head of global markets Asia ex-Japan.
Varma moves to Mumbai from Deutsche Bank in London, where he had been head of global principal finance for Europe and responsible for illiquid asset trading and principal investments since 2005.
ôIndia is a strategically important market for our Asian business and one in which we continue to make significant investments,ö says Loh in a written statement. ôMunishÆs appointment ensures our Indian business will continue to make a strong contribution to the bankÆs local franchise and our broader regional platform.ö
Varma takes over from Pavan Sukhdev who will take a sabbatical from Deutsche Bank to focus on his work in environmental economics and conservation with various non-government organisations, including the Green India States Trust and the United Nations Environment Programme.
Varma first joined Deutsche Bank following its merger with BankerÆs Trust in 1999. He was involved in setting up DeutscheÆs credit structuring business, covering asset re-packs and synthetic collateralised debt obligations.
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