Deutsche Bank Restructures GTB, Satvinder Singh to Lead New Unit

Deutsche Bank has again realigned its Global Transaction Banking (GTB) division by combining its Trust & Securities Services and Cash Management for Financial Institutions (TSS/CMFI) and Financial Institutions & Securities Sales (FI&S Sales) businesses into a single unit, Institutional Cash & Securities Services (ICSS).

In April, Deutsche Bank launched an Investor Services business designed to replace Direct Securities Services (DSS) and reposition the custody and clearing, agency securities lending and fund services businesses of that franchise into the new Investor Services group.

Now, the product, sales and coverage teams from the Investor Services, Institutional Cash and Issuer Services business will be combined. By creating one unit, Deutsche Bank aims to provide financial institutions, investors and issuers with easier access to the bank’s range of transaction banking services.

Satvinder Singh, who previously served as global head of TSS/CMFI, will serve as the head of ICSS.

“This is an exciting opportunity as it allows us to further invest in our core competencies and become even more client-centric,” says Singh. “Most importantly, the alignment of product and sales enables us to intensify the delivery of our client-focused solutions.”

“Our aim is simple yet ambitious: to put clients at the heart of GTB by creating an organization that meets their specific needs from end-to-end,” says Werner Steinmueller, head of GTB. “Satvinder Singh is a highly respected figure in the transaction banking industry and has excellent relationships with clients and significant experience in successfully leading sales and product organizations.”

Deutsche Bank says the restructuring also aims to provide greater collaboration and connectivity across all of the bank, not just within GTB.