Banking

Deutsche strategy chief to head Asia-Pacific

Changes at Deutsche Bank in Asia-Pacific confirm that the German investment bank intends to increase its focus on the region.

Alexander von zur Mühlen is to take charge of Deutsche Bank’s Asia-Pacific business when Werner Steinmüller retires at the end of July. It is a move that confims that this is where the Frankfurt-headquartered bank sees its future growth.

Asia-Pacific currently makes up 13% of the bank’s revenue and 22% of its staff.

“In his nearly 30 years of service at Deutsche Bank, Werner Steinmüller has been instrumental in developing significant areas of the group. Both the transaction bank, which he managed for several years, and most recently the APAC business are crucial to Deutsche Bank’s future,” said supervisory board chairman Paul Achleitner in a statement....

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