Expanding its regional cash management and trade finance coverage, Deutsche Bank makes one regional appointment and three new country appointments in Asia.
Mahesh Kini becomes Asia-Pacific regional head of cash management for corporates; Suman Chaki takes on the role of Malaysia head of trade finance, cash management for corporates and corporate banking; Bryan Chen becomes Taiwan head of trade finance and cash management for corporates; and Timothy Lee is appointed head of Hong Kong sales and cash management for corporates.
"Deutsche Bank has been acknowledged as a leading provider of trade finance and cash management services globally as well as in Asia," says Thomas DuCharme, Deutsche Bank's Asia ex-Japan regional head of global transaction banking. "These new senior appointments reflect our commitment to better serve the growing needs of our clients in Asia-Pacific."
Singapore-based Kini takes over the regional cash management job from DuCharme, who from now on will focus solely on his other role as the bank's Asia ex-Japan head of global transaction banking. Kini has been with the bank's cash management corporates division since 2007.
Chaki replaces Axel Gross, who is now Deutsche's Vietnam head of global transaction banking. He will relocate to Malaysia from Deutsche Bank in India where he has worked since 1999, most recently as head of cash and trade sales.
Chen's position in Taiwan and Lee's new job in Hong Kong are both new positions at Deutsche. Previously Chen worked as Taiwan sales head for cash management. He has been with the bank since 2006. Lee joins Deutsche in Hong Kong from Citi, where he was director of the local corporate division.
Deutsche's cash and trade staffing appointments come at a time when its global transaction banking division is one of the bright spots in its earnings profile. In 2008, the bank reported an unaudited loss before taxes of €5.7 billion ($7.4 billion), compared with a €8.7 billion income before taxes a year earlier. However, global transaction banking revenues increased 7% to €2.8 billion year-on-year.
Like other banks hit by the economic crisis, cash management and trade finance services have become increasingly important revenue streams for Deutsche.