Deutsche Bank has made two regional appointments in its Direct Securities Services business in the Asia-Pacific region, both based in Singapore.
Mrugank Paranjape, managing director, has been appointed head of Direct Securities Services (DSS) for Asia-Pacific where he has overall responsibility for business strategy and growth for the banks sub-custody, clearing and fund administration business across 14 countries in the region, as well as expanding the banks footprint in the onshore fund administration space. Paranjape is a veteran banker with more than 20 years of capital markets experience, including nine years in securities services. Before joining Deutsche Bank, he had held senior management roles in international organizations including Prudential ICICI Asset Management India and Citibank.
Joseph Barnes, managing director, has been appointed Head of Direct Securities Services Sales & Relationship Management for Asia-Pacific. In addition to business development and deepening relationships with domestic and cross-border clients, Barnes is responsible for growing the banks third-party agency securities lending business in the region and realizing synergies within the Corporate and Investment Bank to deliver greater value to the banks clients. He has been with the bank for 13 years and has held many sales management and relationship management roles within Deutsche Bank, The Bank of New York and State Street.
GTB intends to rapidly ramp up its already substantial Asian DSS franchise and is putting in place the key people to accomplish this objective, Lisa Robins, Deutsche Banks head of Global Transaction Banking (GTB) business for the Asia-Pacific, says. The relocation of two key managing directors, Mrugank and Joe, to Singapore underscores our focus on growing our transaction banking franchise in Asia as well as our depth of talent and bench strength across the board in GTB within the bank.
Howard Topf, global head of DSS at Deutsche Bank, adds: We are excited about Mrugank and Joes appointments as we continue to invest in our franchise in the Asia-Pacific region. We are confident that their depth of experience in this business will be vital in enhancing our growth strategy for Asia.
(CM)