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Sunday, March 18, 2012

Deutsche Bank appoints Gunit Chadha as Group Executive Committee member

Mr Gunit Chadha, Country Head and CEO of Deutsche Bank in India, will join the top leadership of Germany’s largest bank when India-born Mr Anshu Jain takes over as its co-Chairman at the end of May.

Deutsche Bank’s supervisory board on Friday appointed Mr Chadha as a new member of the highly influential Group Executive Committee (GEC), which will be expanded from 12 to 18 members.

Mr Chadha, 50, will also become the co-head of the bank’s Asia-Pacific operation together with Mr Alan Cloete, head of global finance and foreign exchange based in London, Deutsche Bank said in a press statement after the board meeting.

The GEC comprises members of the management board and senior representatives of the bank’s business divisions and regional operations. It advises the seven-member management board on strategic decisions and assists in preparing the decisions to be made by the board.

Mr Jain, 49, will chair the GEC together with his designated co-CEO, Mr Juergen Fitschen, after they take over the reins of Deutsche Bank from Mr Josef Ackermann at the bank’s annual general meeting on May 31.

Mr Chadha has been a member of Deutsche Bank’s Asia-Pacific executive committee since January, 2005. He played a crucial role in building up the bank’s operations in India and contributed to the steady growth in its profits since joining the bank in August 2002.


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