Deutsche Bank today announced it has appointed Gunnar Hoest as a Managing Director and Head of Commodities, Asia. Mr Hoest joins from Credit Suisse, where he was Head of Asia Commodities and starts with Deutsche Bank in late June. He will be based in Singapore and report regionally to David Lynne, Head of Global Rates Asia, and globally to David Silbert, Global Head of Commodities.
In his new role, Mr Hoest will be responsible for overseeing the continued expansion of Deutsche Bank’s commodities business in Asia, which has grown to become a leading provider of options-based commodity products and a pioneer in new markets such as emissions and iron ore swaps.
Mr Lynne said: “Gunnar’s experience in building a successful Asian commodities business makes him an ideal candidate to drive the continued development of our regional platform.
“We continue to invest significant resources in our Asian commodities business, reflecting growing demand for the full range of commodity-linked financing, investment and risk management products in the region”.
Mr Hoest began his career as a derivatives trader at Credit Suisse in New York before moving to London to trade emerging market credit derivatives. He moved to Hong Kong as Head of Emerging Market Credit Derivatives and Exotic Trading before taking responsibility for building the Asian commodities business at Credit Suisse in 2006.
Deutsche Bank’s Asian commodities business offers a broad suite of products and services, across energy and metals trading, physical trading, freight, emissions, financing and investment products.
Deutsche Bank’s current Head of Commodities in Asia, Simon Grenfell, will relocate to London as Global Head of Metals Sales and Origination and report to Louise Kitchen, Global Head of Commodities Structuring and Sales.
For further information, please contact:
Deutsche Bank AG
Phone: +65 6423 8413
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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 77,053 employees in 72 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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