Deutsche Bank has combined its institutional cash, investor services and issuer services businesses into one unit within its Global Transaction Banking (GTB) division.
The bank expects the move will give its clients such as financial institutions, investors and issuers easier access to its transaction banking services through closer collaboration between Deutsche’s various busineses.
The restructure will involve bringing Trust & Securities Services and Cash Management for Financial Institutions and Financial Institutions & Securities Sales under one roof. The new unit, which will be led by Satvinder Singh, will be called Institutional Cash & Securities Services.
Deutsche believes this reorganisation is “unique” among global universal banks.
“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, head of the new unit, and a member of the Executive Committee of Deutsche Bank’s GTB, said: “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.”
It is understood that there will be no other changes to personnel for the time being.
Deutsche said the restructure would provide clients with more integrated end-to-end solutions through enhanced delivery capabilities and closer collaboration with the rest of the bank. It also said that through greater connectivity with key coverage partners within Deutsche, the new unit would be able to more effectively leverage client relationships across the wider bank.