Deutsche charms Tom away from Citigroup

Tom DuCharme relocates to Singapore to become regional head of cash and trade for Deutsche Bank''s corporate customers.

After 15 years with Citigroup, Tom DuCharme is taking up a top regional job in transaction banking at Deutsche, effective 1 October. He will move from Hong Kong to Singapore where he will become Asia Pacific regional head of trade finance and cash management for the corporate sector.

Deutsche Bank has been reorganizing its cash and trade management team since Jimmy Yap resigned from his role as Asia Pacific head of corporate cash management about a month ago.

The decision has been to follow models already in place in the US and Europe by segmenting along customer lines and bringing all corporate customers for both cash and trade under one manager. The financial institutions business remains separate.

DuCharme will report to Reinhard-E. Uhl, global head of the corporate transaction banking business and, in the region, Roger Harrold.

It is not clear yet who will report to DuCharme but some of the more senior Deutsche bankers include Amita Jhangiani, who is managing director of trade services in Asia, and Shirley Chan, head of cash management for Greater China.

DuCharme was a key player in Citigroup's cash management division, most recently as head of corporate sales for the bank under regional GTS boss Shayne Elliott. He was responsible for gaining and maintaining many big cross-border accounts, which form the cornerstone of Citigroup's multinational cash offering in the region.