Deutsche Bank’s Shaparia gets Asia role

Deutsche Bank Group’s India chief executive Kaushik Shaparia has been elevated to CEO, Emerging Asia, in addition to his existing responsibilities, the firm told its employees on Wednesday, according to an announcement seen by Mint.

Shaparia’s expanded role is subject to relevant regulatory approvals, the note said. As CEO of Emerging Asia, he will oversee Bangladesh, Indonesia, Malaysia, Philippines, Sri Lanka, Thailand and Vietnam.

“The move is expected to further bolster Deutsche Bank’s footprint in Asia and will bring several key regions closer together, as trade corridors and capital flows continue to evolve. With the economic centre of gravity shifting within the APAC region and with a view to enhance collaboration across divisions and regions, the bank has seen many of its roles taking on a more regional focus,” the note to staff said.

A Deutsche Bank spokesperson declined to comment.

Deutsche Bank recently announced its cohead of investment banking coverage in India would be taking on a newly created role of head of Financial Sponsor Financing for Asia at the bank. Recently, Sameer Gupta, head of India DCM, was given responsibility for both India and South Asia DCM franchises.

Other executives were also elevated. Divya Soni will head Relationships and Transaction Management for APAC and Pradeep Gopalakrishnan, CRO India will take on more responsibilities in the region, the note added.

Earlier in May, Deutsche Bank named Zi-Kuan Lim and Rohit Satsangi as its Asia-Pacific co-heads of M&A, according to a report by Bloomberg.

In August, Singapore’s Straits Times reported that the German lender is “selectively increasing headcount in divisions such as investment banking and private banking ahead of what it believes could be a rebound in those areas.”

The Straits Times said Deutsche Bank added around 50 senior people globally to its investment bank in 5 months, with a third based in Asia.

In July, Deutsche Bank reported a net profit of $842 million for the second quarter of 2023.

The bank said that it is on track towards achieving its 2025 financial targets.

“In the first half of 2023 we again demonstrated good growth momentum across a diversified business portfolio, underlying earnings power and balance sheet resilience. This puts us on a good track towards our 2025 financial targets,” Christian Sewing, Chief Executive Officer said at the time.