Deutsche Bank’s securities services division has made two senior appointments in Malaysia to head up domestic sales and to lead its trustee business.
Richard Lim has been appointed head of domestic sales for Deutsche Bank’s Malaysian securities services business and Gerard Ang has been made CEO of Deutsche Trustees Malaysia Berhad, effective 2 November 2020.
Lim will be responsible for leading its securities services growth plans in Malaysia, which provides custody, fund services and post-trade related services for global custodians, asset managers, institutional investors, insurance and corporate clients.
Ang, who is currently responsible for the product and market advocacy efforts in Malaysia for the securities services division, will now also oversee the local trustee business as its CEO, including Deutsche Bank’s fund administration offering as well as trustee for unit trusts, wholesale funds and private retirement schemes for domestic and foreign clients.
“Through the local expertise and relationships that both Richard and Gerard have built over the years, these appointments reinforce our commitment to the market which we wish to grow further and anchor as one of our major markets in the region, in line with Malaysia’s position as a major ASEAN economy,” said Dato Yusof Yaacob, Deutsche Bank’s CEO in Malaysia.
In his new role, Lim will report to Jacqueline William, head of securities sub-ASEAN while Ang will report to Anand Rangarajan, head of securities services APAC.
“As the first service provider to offer fully integrated securities services and today being one of the leading post trade service provider in Malaysia, we continue to focus our efforts on strengthening and enhancing our presence in this key market within ASEAN,” added Rangarajan.
“Mr Lim and Mr Ang’s appointments will be instrumental in further deepening our client relationships and developing our business locally. They bring a wealth of experience to their respective new roles and I am pleased to see our local talent take on these opportunities within Deutsche Bank.”
In February, Deutsche Bank extended its 14-year partnership with SimCorp to continue using its technology and provide an integrated fund services solution across 12 markets in the Asia-Pacific region.