As first reported by Global Custodian last Friday, Deutsche Bank has confirmed it has appointed Satvinder Singh as global head of its Trust & Securities Services (TSS) division.
Singh joins Deutsche Bank from Citibank, where he was head of Direct Custody and Clearing for EMEA. He joined Citi in 2008 from HSBC, where he spent 14 years in the Direct Custody and Clearing division, most recently as global head of sales and relationship management.
Singh will become a member of Global Transaction Bankings executive committee and report to Werner Steinmueller, head of Global Transaction Banking (GTB) and member of the group executive committee. He will join Deutsche Bank in mid-November and will be based in London.
We are extremely pleased about Satvinders appointment as we continue to invest in transaction banking, says Steinmueller. Satvinder is widely recognized as a leader within the securities services industry, and his decision to join reinforces the strength of our TSS and GTB business. Satvinder’s track record in successfully running businesses, combined with his proven client skills, deep-rooted network and industry standing will be invaluable in accelerating the continued growth of our TSS franchise, further cementing Deutsche Banks leading position in the securities services industry.”
Global Custodian first learned of Singhs appointment from an inside source Friday. A London-based spokesperson for Deutsche Bank was not in a position to comment on the appointment at the time, and a New York-based spokesperson likewise responded no comment.
(CG)