Deutsche Bank restructuring

Deutsche combines corporate finance, CMTS under one roof

The move is accompanied by a number of senior corporate finance appointments, including Henry Cai as executive chairman and John Lydon as chief operating officer for Asia-Pacific.
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Deutsche Bank is expanding its corporate finance division to include all of its corporate coverage
<div style="text-align: left;"> Deutsche Bank is expanding its corporate finance division to include all of its corporate coverage </div>

Some six weeks after Deutsche Bank appointed Bhupinder Singh as head of corporate finance and structuring for Asia-Pacific, the bank has expanded the corporate finance division to include all of its corporate coverage. Essentially, the new structure will combine the advisory, equity capital markets and leveraged debt capital markets coverage that previously counted as corporate finance with capital markets treasury solutions (CMTS) under one leadership.

“Our capabilities are now aligned to enable us to provide our clients with comprehensive coverage across our entire suite of services and products,” Singh said in an internal memo. He went on to argue that the bank is now “perfectly positioned to leverage [its] domestic, regional and global network, strong relationships and best-in-class product platform to meet the requirements of [its] clients more effectively and efficiently than ever before”.

The new structure has led to a number of new appointments, although several of the people will also keep their existing roles, suggesting that they are getting mainly a promotion in titles with some additional responsibilities, rather than brand new positions.

One exception is John Lydon, previously co-head of equity capital markets, who will take on the role as chief operating officer for corporate finance in the region. In his new job he will be involved in strategy, staffing and finance issues and will also work across the platform to ensure the new structure provides the bank’s clients with access to its full range of products and services.

This means that Ashok Pandit will become sole head of Asia ECM. Pandit and Lydon have been co-heads of Asia ECM since March 2008.

Among the other appointments, Henry Cai, who joined Deutsche Bank from UBS in October 2010, has been named executive chairman of corporate finance for Asia-Pacific. He will retain his role as head of corporate banking and securities for China and will continue to manage the bank’s most senior relationships in the region.

Doug Morton, currently head of investment banking coverage and advisory for Asia, and Venky Vishwanathan, head of CMTS for Asia, have been given the additional title of co-heads of corporate finance for Asia.

Paul Wetzel will become head of corporate finance for Japan. He will retain his current job as head of investment banking coverage and advisory in Japan and will also take responsibility for a new capital markets group in Japan that will set up a unified coverage team comprising all current members of ECM, DCM and the strategic equity transaction group (SETG). Simon Roue will head capital markets and the strategic equity group in Japan and report to Wetzel.

Yoshitaka Kasai will become the sole head of CMTS Japan, while also retaining his responsibilities as co-head of the institutional clients group in Japan.

There will be no changes in Australia and New Zealand where Scott Perkins will remain head of corporate finance and Grant Bush will continue to head up CMTS.

Aside from Lydon, who will report to Richard Gibb and Rashid Zuberi, all the other corporate finance appointments will report to Singh. Subject to their different roles they will also have a global reporting line to either Jacques Brand for investment banking coverage and advisory, Mark Hantho for ECM or Miles Millard for CMTS.

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