Deutsche Bank has appointed the former head
for transaction banking for Standard Chartered Bank in Taiwan, Carl
Wegner, to run its global transaction banking (GTB) business in
Mainland China, Hong Kong and Taiwan as part of the bank’s plans to
grow the business division in Asia.
Deutsche said that the GTS business division
“a key role in the development of Hong Kong’s offshore renminbi
market”.
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Deutsche Bank currently offers onshore as well
as offshore RMB cash management and trade finance services and
corporate treasury support across renminbi financing and risk
management in the region. Its strategy is to grow the range of
trade finance products and services as cross-border trade across
Mainland China, Hong Kong and Taiwan continues to grow, the bank
said.
Wegner will report to regional head of global
transaction banking for Asia-Pacific, Lisa Robins, and the
president of Deutsche Bank in China, Feng Gao.
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