Deutsche Bank circulated a memo to staff last week announcing the creation of an Investor Services business within its Global Transaction Banking division.
This brings together its Custody and Clearing, Agency Securities Lending and Fund Services businesses and constitutes a repositioning away from Direct Securities Services (‘DSS’) to a more broadly-based Investor Services business — a reflection of the growing importance of these three units, the opportunities for realizing synergies across them and with Deutsche Asset & Wealth Management and the Bank’s Corporate Banking & Securities division and clients’ increasing demand for solutions spanning these products.
Rafael Moral will become global head of Investor Services, reporting to Satvinder Singh, effective June 1, 2014.
Mr Moral brings a wealth of experience and cross-Bank connectivity to the role. For the past three years, he has successfully led the Strategy & Business Development function for Global Transaction Banking (GTB), having joined as Chief Operating Officer, Germany in 2010. Prior to that, he spent eight years with Group Strategy (AfK), most recently heading this function for Asia Pacific, following roles in the Americas and in Europe. Before joining Deutsche Bank in 2002, Mr Moral gained business leadership experience in the software industry, following time in McKinsey’s Financial Institutions Group practice.
Thibaud de Maintenant, current head of DSS, has been appointed GTB Head of France. His appointment reflects the importance the Bank places on Europe’s 3rd largest economy and its ambitions for this market. He will begin his new role on July 1, 2014 and, in the meantime, will be working with Mr Moral on a seamless transition. In this capacity, he will report to Stefan Bender, GTB Head for Europe, Middle East and Africa.
The original article is here.