Deutsche Bank, the European banking giant, has appointed new co-chiefs for its Asia-Pacific operations.

Effective 1 June, Gunit Chadha and Alan Cloete take the role of co-chief executive for Asia-Pacific, replacing Robert Rankin who will become co-head of coporate banking and securities and head of corporate finance based in London. 

Chadha is currently the chief executive for Deutsche Bank India based in Mumbai, while Cloete is head of global finance and foreign exchange. The latter is presently London-based and will relocate to Hong Kong for his new role. Chadha will eventually move to Singapore. Both will also join the global group executive committee, Deutsche Bank bank said. It is presently looking for a new India CEO.

The appointments complement the recent big moves within the company over the past months, including that of Anshu Jain and Juergen Fitschen as co-chief executives of the parent firm effective end of May, to replace departing chief Josef Ackerman. (See related report here.)