Deutsche Bank has appointed Werner Steinmueller as CEO of its Asia Pacific business.
Steinmueller is currently head of global transaction banking and has taken up a seat on the company’s management board as part of his new role. The appointment is subject to regulatory approval.
He has worked for Deutsche Bank since 1991 and held his current role since 2004. He will be relocated to Hong Kong to serve as CEO of Asia Pacific and will be the first ever management board member the company has based in the region.
The role will give him responsibility for 20,000 employees in Asia.
His role as head of global transaction banking will be taken over by John Gibbons. Gibbons was previously regional executive for Europe, Middle East and Africa and gloval head of banks and broker dealers for treasury services at JP Morgan.
Gibbons will be based in London and report to Jeff Urwin, head of corporate and investment banking.