Deutsche’s New Asia CEO Chooses Singapore
(20 July 2020 – Singapore) Deutsche Bank’s new Asia chief executive officer (CEO), Alexander von zur Muehlen, will be relocating from Frankfurt to Singapore for his new role – not Hong Kong, where his predecessor sits.
Von zur Muehlen, who played a key role in the lender’s massive restructuring last year that included the closing of its equity sales and trading business, is set to take charge of the group’s Asia Pacific business when veteran Werner Steinmueller retires this month. He was previously head of group strategy and co-head of global capital markets prior to that.
The company’s wealth management, asset management and corporate finance functions operate primarily out of Hong Kong, whilst its fixed-income and commercial banks operations are primarily run out of Singapore. Earlier on, the Bank’s new environmental, social and governance (ESG) head Kamran Khan relocated to Singapore from Washington.
“We have – and always have had – and remain committed to a dual hub structure for the region” a Deutsche spokesperson said.