Deutsche has new man on Borda

Kenneth Borda will be taking over the helm at Deutsche as CEO of Asia Pacific (ex Japan) on June 30 when Martin Loat returns to Europe.

The 49 year old Borda is currently chief executive of Australia/New Zealand. Borda has been with Deutsche since 1989 serving as chief legal counsel, head of corporate finance and head of investment banking division for Australia and north Asia before his appointment as chief executive of the Australasian business. Prior to Deutsche Borda was a partner of strategy consultancy, Bain & Company.

Juergen Fitschen, member of Deutsche Bank's group executive committee responsible for Asia Pacific says, "Ken brings a substantial depth of experience to the region having built the business with his management team in Australia/New Zealand to the level where it is the number one rated franchise across several core business areas."

Borda himself adds, "Deutsche Bank has a robust and developing franchise across Asia. Many of our businesses are at the leading edge of product innovation and service delivery in expanding Asian markets and we are well positioned for further growth."

Borda may soon be seen as another Mack the Knife as on the back of a huge drop in profit last year. Deutsche has just announced a global cost cutting drive in which it want to see 800 million Euros in savings. Borda's current role will be taken over by Chum Darvall head of Global Markets Australia and New Zealand.

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