Deutsche Bank yesterday announced the appointment of Manfred Schmoelz as the bank's chief country officer in Thailand, effective April 1. He will replace Rags Raghavan, who after 10 years in Thailand, is leaving the industry.
Schmoelz will be in charge of all of Deutsche Bank's businesses in Thailand, and for maintaining relationships with the local banking regulators and other institutions. He will report to Colin Grassie, the Asia CEO.
In his previous role, Schmoelz was head of corporate banking coverage for Asia-Pacific, based in Singapore. Of the 20 years he has worked in corporate banking, 13 have been in Asia. He has also worked for the bank in Germany.
"Thailand is an important market for our regional and global franchise and we are continuing to develop and invest in our business there," said Grassie in a statement. "Manfred brings almost 20 years of banking experience to the role and his expertise in providing financial solutions to corporate clients throughout Asia will be particularly valuable locally."