Deutsche Bank has elevated Anjali Mohanty, Head of the bank’s corporate banking business in India, as the Head of global subsidiary coverage (GSC) in the Asia Pacific. As Kaushik Shaparia was chosen to head India business in May, Mohanty will now take over Shaparia’s previous role at the bank.
Further, the bank will now have two heads for the corporate banking business in India. Sriram Krishnan, who is currently the Head Securities Services, and Rajesh Thakur, currently the Head Cash Management, will be co-heads for corporate banking in India. Both of them will report to David Lynne, who is the Head of Corporate Banking for Asia-Pacific.
In addition to these changes in the leadership team, Shyamal Malhotra will be in charge of all institutional client coverage in India, including banking multinational clients, and will be led by Rajesh Thakur. Further Anand Jha has been promoted to head trade finance in India with effect from 3rd October.
While the German lender has been struggling globally and is undergoing major restructuring, it has witnessed profits in India. Recently, the bank has injected about $520 Mn in capital into the Indian operations. Globally, Deutsche Bank has planned to cut about 18,000 jobs as part of the restructuring efforts to cut costs by a quarter. But on the Indian front, the future does not appear to be so bleak. In fact, the Indian wing has already received the approval to add 120 people in retail banking and 19 relationship managers for the local wealth business.
For the current leadership team at Deutsche Bank the key priority will be to ensure smooth operations amidst economic slowdown in the country as well as across the globe. Even if the bank’s global plans of restructuring doesn’t have much impact on the business in India, the leadership must proactively ensure that no jitters are felt in India’s operations and even if a crisis like situation arises they are able to sail through it. This is the time to focus on strengths and enhance the entire team's potential for a sustainable business growth.
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