Deutsche Bank has promoted Nemanja Zugic as the new head of its representative office in Belgrade, Serbia. He replaces Wolfgang Walter, who has managed the Serbian office since 2002. Mr Zugic, previously deputy head in Belgrade, will continue to focus on representing Deutsche Bank's corporate and investment bank as well as private wealth management in Serbia, Montenegro and Macedonia. As head of the representative office in Belgrade, he will report to Peter Tils, chief executive of Deutsche's Central and Eastern Europe region.