Deutsche Banks Global Transaction Banking (GTB) division has reorganized its Trust & Securities Services and Cash Management for Financial Institutions (TSS/CMFI) business and announced several key appointments to position the business for further growth. Specifically, the bank is combining certain units within the business to provide integrated solutions to clients and is strengthening local relationships, aligning its global resources and providing clients with bespoke solutions and services.
Satvinder Singh, global head of TSS/CMFI, said: The improvements to our business model will strengthen our ability to help clients navigate and succeed in todays challenging environment.
Deutsche Bank has appointed four TSS/CMFI region heads who will be responsible for strengthening local relationships, aligning the Banks global resources and providing clients with bespoke solutions and services.
Gary Vaughan will assume the new role of TSS/CMFI region head for the Americas. In addition to the regional role, Vaughan will continue as co-head of Americas Corporate Trust for the Trust and Agency Services business.
Mrugank Paranjape will assume the new role of TSS/CMFI Region Head in Asia. In addition to the regional role, Mrugank will continue as Direct Securities Services head of Asia Pacific.
Jose Sicilia will assume the new role of TSS/CMFI region head in Western Europe. In addition to the regional role, Sicilia will continue as Head of EMEA Corporate Trust for the Trust and Agency Services business.
Sriram Iyer will assume the new role of TSS/CMFI Region Head in Central Eastern Europe Middle East & Africa (CEEMEA). In addition to the regional role, Iyer will continue as GTB Head for MENA.
Mike Hughes has been appointed to the newly created role of global head of Funds Services, which combines TSS/CMFIs Alternative Funds Services and Domestic Funds Services businesses to increase its focus on the non-bank financial institution segment. Hughes will continue as GTB country head for the UK, Channel Islands and Ireland.
Edwin Reyes will be responsible for the newly combined Depositary Receipts and Transferable Custody Receipts offering, which provides a wider range of depositary receipt services from a single source in order to address the complex needs of clients. Edwin maintains his role as global head of Depositary Receipts.
Daire McCormack has been appointed to the newly created role of global head of Escrow Solutions. McCormack will deliver the banks escrow market expertise to a wider range of client segments while deepening current client relationships.
(JDC)