Deutsche Bank today announced that Atul Malik has joined on 1 October 2007 and becomes a member of the bank’s Private and Business Clients Executive Committee. He will take over the role as Head of Private and Business Clients (PBC), Asia Pacific from Peter Schedl at the end of the year and also become a member in the bank’s Asia Pacific Committee. Mr. Malik will be based in Singapore and report to Rainer Neske, Head of Private and Business Clients and within the region to Colin Grassie, Chief Executive Officer, Asia Pacific. Peter Schedl will return to Frankfurt to take up a global strategic role in PBC.
Atul joins from Citibank, where his most recent assignment was as Country Business Manager for Hong Kong and Macau. In this role, he was responsible for all consumer lines of business including wealth management, consumer finance, cards and SME business. Prior to this he spent 15 years in Citibank’s consumer business in India where he worked in operations, branch banking, retail lending, risk, marketing, internet banking and credit cards. His last assignment in India was Head of Credit Cards, Marketing and the Internet business.
Announcing the appointment, Rainer Neske said, ”Asia presents some of the most compelling opportunities for our business globally. It is a region not only of the future, but one where we are already experiencing tremendous growth. Atul Malik has extensive experience in banking throughout the region and is well placed to build on the sound foundations already built.”
Colin Grassie, CEO Asia Pacific, said, ”Atul will spearhead our ambitions in Private and Business Clients business in Asia, a region where we are already strategically well-positioned, in China and India in particular.”
Deutsche Bank’s PBC business in Asia has developed impressively in recent years. In India, Deutsche Bank launched its PBC business less than two years ago and now has a network of 10 branches; approximately 1,000 employees; approximately 410,000 clients; and a successful and fast growing credit card franchise. In China, Deutsche Bank launched a credit card joint venture with Huaxia Bank in June 2007 and has also launched two Deutsche Bank-branded PBC branches in Beijing and Shanghai.
For further information, please contact Deutsche Bank Communications:
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About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 75,140 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
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