Deutsche Bank Asia head joins Group Exec Committee

FRANKFURT, Dec 16 (BestGrowthStock) – Deutsche Bank (DBKGn.DE: ) said
it will promote Asia chief Robert Rankin to the bank’s Group
Executive Committee from 2011 onward, a sign of the region’s
increasing importance for the bank.

The Group Executive Committee (GEC) which advises the
management board on strategic decisions, has so far lacked a
dedicated Asia chief, despite already having a representative
for the Americas.

Deutsche Bank’s Chief Executive Josef Ackermann said on
Thursday, “This appointment reflects the bank’s global presence
and underlines the strategic importance of the Asia Pacific
region as one of our key growth drivers.”

Deutsche wants to raise revenues in Asia Pacific excluding
Japan to around 4 billion euros ($5.3 billion) by 2011 from
around 2.1 billion euros in 2008, mainly by focusing on organic
growth. [ID:nWEA5547] [ID:nWEA5552]

In July, Deutsche Bank appointed Henry Cai, a former top UBS
(UBSN.VX: ) deal maker, as its head of corporate finance in Asia,
in a widely expected move, as banks in the region go on an
aggressive hiring spree in anticipation of a strong pick up in
mergers and acquisition. [ID:nSGE66H01M]

Deutsche already has a joint venture in China with Zhong De
Securities, and recently raised its stake in Hua Xia Bank
(600015.SS: ). [ID:nSHA137769] [ID:nSHA199464]
(Reporting by Edward Taylor)
($1=.7559 Euro)

Deutsche Bank Asia head joins Group Exec Committee