Deutsche Bank to focus on APAC prime finance, despite global cuts

Deutsche Bank plans to double-down its efforts for its most profitable clients, expanding the hedge fund focus on its senior equities team.

By Joe Parsons

Deutsche Bank will reorganise its Asia-Pacific equities team in order to focus on prime finance, despite cuts it has made to the business in other places of the world.

According to a memo seen by Global Custodian, it will place a priority on prime finance as well as its electronic business.

“In the region, we’ve focused our equities platform to be more efficient, our prime balances are stable, and we’re selectively investing in our technology and people to sharpen our offer to clients,” said James Boyle, APAC head of equities, Deutsche Bank.

Angus Yang, the bank’s regional head of prime brokerage, will also take on the delta one business to become head of prime finance and delta one, in order “to maximise synergies between these two products,” the memo said.

In addition Marlon Sanchez will expand its current role as head of prime finance sales APAC, to include head of hedge fund complex APAC and head of ICG (institutional client group) Hong Kong.  

“Under Marlon’s leadership, our presence and footprint with the hedge funds in this region has grown significantly. In his new role, he will be tasked with establishing a coordinated and optimised coverage structure for our APAC hedge fund clients, as well as growing the overall revenue pool across FIC and Equity products,” the memo added.

However Nick Silver, a 15-year Deutsche Bank veteran and head of global prime finance APAC and co-head of equity execution services APAC, will leave to pursue new opportunities.

Deutsche Bank will now double-down its efforts for its most profitable clients.

The German-based bank had recently announced it will cut its leverage exposure in prime finance by around €50 billion and will make a significant reduction in its headcount across the US and Asia.