Deutsche Bank will open an agency securities lending desk in Hong Kong in the second quarter of 2012 to better service the needs of clients in local Asian markets.
Greg Chamberlain, who recently joined Deutsche Bank, will lead the operation in Asia and will be based in Hong Kong. Chamberlain has more than 20 years experience in the securities lending industry. He was previously with Barclays Capital In his new role, Chamberlain will report to John Schreyer, head of Agency Securities Lending trading EMEA and Asia, Deutsche Bank.
Mrugank Paranjape, Asia head of Direct Securities Services, Deutsche Bank, commented: “Deutsche Bank is dedicated to meeting the needs of our clients in Asia, and the establishment of an Agency Securities Lending unit in Hong Kong demonstrates our commitment to the business. This expansion of our footprint further strengthens our Direct Securities Services franchise in Asia and enhances the value we bring to our clients.”
Tim Smollen, global head of Agency Securities Lending, Deutsche Bank, said: “The Hong Kong desk will complete our Agency Securities Lending coverage that is already in place in Frankfurt, London, New York, Poland and Turkey. We look forward to further supporting the Agency Securities Lending needs of our clients by being in the same time zone, allowing us to best coordinate trading in local Asian markets. In addition, we are pleased to welcome Greg, who will leverage his more than 20 years of experience in the securities lending industry to help us increase our presence in Asia.”
(JDC)