Banking News

New global transaction bank head announced by Deutsche

(28 March 2019 – Global) Deutsche Bank has confirmed Ole Matthiessen as the group’s new global head of cash management.

The move comes amid a shuffle in the German lender’s cash management and transaction banking division leadership. The German lender is renewing its focus on treasury services with the key appointment at its cash management and transaction banking division. Matthiessen has worked for the German lender since 2008 and was most recently its global co-head of foreign exchange structuring, serving corporate and institutional clients. He has moved steadily up the ranks since he joined Deutsche Bank’s multi-asset corporate derivate sales desk in August 2008.

Between 2016 and 2019, Matthiessen was the co-head of global capital markets financing and solutions group. Matthiessen’s appointment follows a series of senior moves in Deutsche Bank’s transaction banking and cash management teams. In October 2018, the bank picked Stefan Hoops to lead its global transaction banking operation. A career Deutsche Bank banker, Hoops also served as its co-head of institutional & treasury coverage. That same month, Deutsche Bank hired Kaushik Shaparia to head of corporate banking coverage, Asia Pacific. The group made two high profile appointments in the region in May 2018, promoting David Lynne to head global transaction banking, Asia Pacific and relocating Dirk Lubig to Shanghai from Europe as its head of global transaction banking (GTB), China and head of corporate cash management Greater China.

During the quarter ended December 31, 2018, Deutsche Bank’s GTB division earned €996 million in revenue, up five percent year-on-year.

“GTB revenues grew year on year, and sequentially, driven by higher net interest income and transaction growth, most notably in cash management,” James von Moltke, CFO of Deutsche Bank said. Von Moltke anticipated GTB revenues will continue to grow in 2019, driven by higher net interest income and improved pipeline conversion. With transaction banking revenues last year at their highest in a decade, this aspect of the business is receiving renewed attention from lenders.

While Citi and HSBC have been regional leaders in the segment, European banks, not wanting to be left behind are making efforts to close the gap. Societe Generale and Standard Chartered have also hired senior personnel for their transaction banking teams in Asia. Last January, Societe Generale moved Evelyne Collin from India to Hong Kong appointing her as the global transaction banking head for the region. Around the same time, Standard Chartered also appointed Lisa Robin formerly at Deutsche, as their new head of global transaction banking.