DB Creates New Investor Services Business to Replace DSS Franchise

Deutsche Bank has created an Investor Services business within Trust and Securities Services/Cash Management Financial Institutions (TSS/CMFI).
By Janet Du Chenne(59204)
Deutsche Bank has created an Investor Services business within Trust and Securities Services/Cash Management Financial Institutions (TSS/CMFI).

The new unit comprises custody and clearing, agency securities lending and fund services. These three businesses previously formed direct securities services (DSS), says Deutsche Bank in an internal memo, but their repositioning as investor services is a reflection of their importance, the opportunities for realizing synergies – “not only across these businesses but also with CB&S and DeAWM – and our clients’ increasing demand for solutions spanning these products.”

Rafael Moral will become global head of Investor Services, reporting to Satvinder Singh, effective June 1, 2014.

Moral has been with Deutsche Bank since 2002. For the past three years, he has led GTB’s Strategy & Business Development function (S&BD). Prior to that, he spent eight years with group strategy (AfK), most recently as head of APAC for AfK, following roles in the Americas and in Europe. Before joining Deutsche Bank in 2002, Moral worked in the software industry, following time in McKinsey’s FIG practice.

An announcement on his successor will follow in due course, says Deutsche Bank.

Thibaud de Maintenant, current head of DSS, has been appointed GTB head of France. His appointment reflects the importance the bank places on Europe’s 3rd largest economy and its ambitions for this market, says the memo. He will begin his new role on July 1 2014 and, in the meantime, will be working with Moral on a seamless transition. In this capacity, de Maintenant will report to Stefan Bender, GTB head, EMEA.

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