Gunit Chadha, CEO – Deutsche Bank India, would be moving into the role of co – CEO for Deutsche Bank Asia. He along with Alan Cloete have been appointed as co CEO of Deutsche Bank Asia Pacific. The appointment is effective June 2012. Gunit and Alan, would also be a part of the bank’s global group executive committee. With this change Gunit will relocate to Singapore.
The bank has had a history of co CEO structure, and has recently adopted a co CEO structure for its Asia Pacific region. As per the bank – “The new co-CEO structure in Asia Pacific reflects Deutsche Bank’s large scale of operations and investment across 17 countries, its business success, and the significant potential of the region,”. Earlier the company had appointed Ashu Jain as co CEO for Deutsche Bank along with Jürgen Fitschen, following the movement of Joseph Ackerman as Chairman of the Board.
Gunit has been the country head and Chief Executive Officer of Deutsche Bank India since 2003. He is a graduate from IIM – A , 1984 Batch. Gunit has over 26 years of experience in Retail, Corporate & Investment Banking experience from USA and India. Prior to Deutsche Bank, he was the CEO for IDBI Bank where he was voted as “The Banker of the Year” by Business Standard. Before joining IDBI he was with Citicorp Securities. New York and Citigroup as Head – Investment Banking for India, Nepal, Sri Lanka and Bangladesh. He has also held senior positions in various industry forums – Board of Directors of Association of Merchant Bankers in India, Managing Committee of Indian Bankers Association, member of RBI’s Technical Advisory Committees etc.
Contender’s for DB India CEO’s Role:
With Gunit moving out from the India CEO role, the company has initiated the search for a new CEO for the Indian operations. Some senior executives whose names may be under consideration for elevation as the Deutsche Bank India CEO’s position are – Shrinath Bolloju – Managing Director and Chief Operating Officer, India, Deutsche Bank. , Sanjay Agarwal, MD and Head of Corporate Finance, and Ravneet Singh Gill, Managing Director & Head – Corporate Banking division.
Deutsche Bank, employs about 9000 employees in India, and about 18,000 in the Asia Pacific region. Earlier in 2011, Deutsche Bank had sold of its credit card division to Indus Ind Bank.