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Bhupinder Singh said to be exiting Asian role with Deutsche Bank
[HONG KONG] Bhupinder Singh, Deutsche Bank AG's Asia-Pacific co-head of investment banking, is leaving after two years in the role, people familiar with matter said.
Mr Singh will stay for a few months until a replacement is announced, one of the people said, asking not to be identified as the matter is confidential. The Singapore-based banker declined to immediately comment when reached on his mobile phone.
The departure is coming as Deutsche Bank revamps its operations globally. John Cryan, the co-chief executive officer installed in July, has signaled he'll shrink an investment bank wrestling with more than 11 billion euros (S$17 billion) of misconduct costs.
Mr Singh was appointed co-head of corporate banking and securities in Asia-Pacific with Michael Ormaechea in August 2013. He was formerly Deutsche Bank's head of corporate finance and restructuring in the region.
Germany's largest bank is under pressure to overhaul its securities unit to respond to stricter capital rules and a slump in debt trading that eroded some of its most profitable businesses. Mr Cryan has called costs "unacceptably high," with a "continuing burden of heavy litigation charges."