In this newly created position, Deng will lead and oversee Deutsche BankÆs business development in China, with special emphasis on the implementation of its expansion plans in the market. Based in Beijing, Deng will report locally to Lee Zhang, the bankÆs chairman in China, and regionally to Colin Grassie, the bankÆs chief executive officer in Asia-Pacific ex-Japan.
The German bank announced in March that it has applied for local incorporation in China and that it plans to set up its headquarters in Beijing. Familiar with the regulatory environment in the country, Deng will be actively involved in this process.
ôBetty DengÆs appointment adds significant additional depth to our business management capability in China, which is a global priority growth market for the bank,ö says Grassie.
At Citi, Deng was responsible for developing the bankÆs business in China and its state-owned enterprise client-base. As co-head of public sector she not only developed a good understanding of Chinese regulations, but also built good relationships with the regulators.
Educated in China and the United States, Deng has held various commercial and banking roles in both countries, including senior management and business development positions at EI Dupont De Nermours & Co in Hong Kong and GE Capital Corporation in China.
Deutsche Bank currently provides investment banking, private wealth management, private and business banking as well as asset management services in China. Last year, the bank completed the acquisition of a 9.9% stake at Hua Xia Bank.