People Moves

Deutsche Bank Adds New Chief Country Officer

Natasha Taghavi Reporter London 8 May 2013

Deutsche Bank Adds New Chief Country Officer

Deutsche Bank, Germany’s largest bank, has appointed Philip Lee as chief country officer for Singapore and vice chairman for South East Asia, with effect from 8 July.

Lee will take over from Ronny Tan as Singapore chief country officer, however Tan will continue with the bank as vice chairman, Singapore, having played an important role in the development of the bank's Singaporean franchise for 12 years, the firm said.

Lee was previously with JP Morgan from 1995, where he most recently held the roles of senior country officer, Singapore, and chief executive, South East Asia investment banking. Before that, Lee held a number of investment banking roles with Citibank and Credit Suisse First Boston in New York, Singapore and Hong Kong.

Reporting to Gunit Chadha and Alan Cloete, co-CEOs for Asia-Pacific, and members of the group executive committee, in his new role, Lee will work across all of Deutsche Bank's business divisions and client activities across Singapore and South East Asia.

Last month, Deutsche Bank said that its income before income taxes amounted to €2.4 billion (around $3 billion) for the first three months of 2013, compared to €1.9 billion for the first quarter of 2012, an increase of €527 million (28 per cent).

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