Deutsche on the move in Asia-Pac

Deutsche Bank - External

Deutsche Bank’s Asia-Pacific revenue may expand 10% or more over the next three to five years, said Gunit Chadha, co-chief executive officer for the region.

Bloomberg News reports that the bank has made “large hires” for wealth management in the region and is adding people in investment and transaction banking, Chadha said in an interview with Bloomberg Television’s Haslinda Amin in Singapore today. He didn’t give numbers.

Deutsche Bank reported a $118m loss for the three months through September after setting aside funds to cover the costs of settling investigations. Growth in trade financing in the Asia-Pacific region was a bright spot in what the lender described as a “challenging” quarter for transaction banking.

“We feel very good about the Asia Pacific and especially as we see some markets coming back into growth,” said Chadha, who leads the bank’s operations in the region with Alan Cloete. The firm is “deeply invested” in 16 countries, he said.

Deutsche Bank has about 18,000 Asia-Pacific employees, according to Chadha. That compares with about 98,000 people globally at the end of September, a company presentation shows.

To access the complete Bloomberg News article hit the link below:

Deutsche Bank Sees Asia-Pacific Revenue Growing at Least 10%

ICAP First-Half Pretax Profit Drops 10% Amid Volatility

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