Deutsche appoints China chairman

Lee Zhang promoted to top China job as Deutsche gears for expansion.

Deutsche Bank is expanding its China operations in anticipation of a surge in business. Lee Zhang, former chief country officer for China, will step up to the newly created role of chairman to help the bank exploit opportunities created by China's WTO accession.

In August Deutsche became one of the first overseas banks to win a licence to operate as a qualified foreign institutional investor, allowing it to take part in China's $500 billion local currency share market. The bank has also recently been awarded an internet banking licence and already has a renminbi licence in Shanghai. The bank has also expressed interest in setting up a domestic equity underwriting joint venture with...

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