Deutsche Bank today announced it has appointed Munish Varma as Head of Global Markets India, effective immediately. In his new role, Mr. Varma will be responsible for Deutsche Bank’s leading sales and trading businesses in India. He will report locally to Gunit Chadha, Chief Executive Officer of Deutsche Bank in India and regionally to Loh Boon Chye, Head of Global Markets Asia ex-Japan.
Mr. Varma joins from Deutsche Bank in London, where he was Head of Global Principal Finance Europe, responsible for illiquid asset trading and principal investments undertaken by Deutsche Bank in the region.
Mr. Chadha said: “Global Markets continues to make a significant contribution to financial markets in India, both as a source of liquidity and as a leading provider of investment and risk management products. Under Munish’s leadership, Global Markets will continue to serve a client base whose needs are increasing in-line with the development of India’s economy and financial markets”.
Mr. Loh said: “India is a strategically important market for our Asian business and one in which we continue to make significant investment. Munish’s appointment ensures our Indian business will continue to make a strong contribution to the Bank’s local franchise and our broader regional platform”.
Deutsche Bank Group is currently at the top of the investment banking league tables in India. It is ranked first in equity capital markets year to date in 2008 and first for arranging foreign currency bonds for Indian companies in 2007, according to Bloomberg.
Mr. Varma takes over from Pavan Sukhdev, who takes a sabbatical from Deutsche Bank to focus on his work in environmental economics and conservation with various non-government organisations, including the Green India States Trust and the United Nations Environment Programme (UNEP). Earlier this year, Pavan was appointed by the EU Commission and Germany to lead a G8+5 project to write a report on The Economics of Ecosystems and Biodiversity. He has also been nominated to lead ‘Green Economy’, a major UNEP initiative.
Mr. Varma first joined Deutsche Bank following the merger of Banker’s Trust in 1999 and was instrumental in setting up Deutsche’s credit structuring business, covering asset re-packs and synthetic CDO's. He has been responsible for the Global Principal Finance business in Europe since 2005.
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