Deutsche Bank Streamlines Services into Single Unit
Deutsche Bank has aligned its trust and securities services, cash management for financial institutions (FIs) and FIs and securities sales businesses into a single unit within the bank’s global transaction banking (GTB) division.
The combined unit will be formed as the institutional cash and securities services (ICSS), headed by Satvinder Singh, its global head of trust and securities services and cash management FIs.
The new unit combines product, sales and coverage teams for three client-centric businesses and will provide FIs, investors and issuers with easier access to the bank’s range of transaction banking services.
Deutsche Bank added that the change brings further clarity to the ICSS operating model and will allow it to provide clients with integrated end-to-end solutions through enhanced delivery capabilities and a closer collaboration with the bank.
“Our aim is simple yet ambitious: to put clients at the heart of GTB by creating an organisation that meets their specific needs from end-to-end,” said Werner Steinmueller, head of GTB and a member of Deutsche Bank’s group executive committee.
“Satvinder Singh is a highly respected figure in the transaction banking industry and has excellent relationships with clients and significant experience in successfully leading sales and product organisations.”
Singh added: “This is an exciting opportunity as it allows us to further invest in our core competencies and become even more client-centric. Most importantly, the alignment of product and sales enables us to intensify the delivery of our client-focused solutions.”