Wednesday, March 05, 2008

Deutsche shifts focus to Asia-Pacific equities

As part of Deutsche Bank AG's shifting focus on Asia-Pacific equity trading businesses, it is transferring its head of global equity and derivatives trading, Mr. Noreddine Sebti, from New York to Hong Kong.

Mr. Sebti will take charge of the bank’s Asia operations on top of his global responsibilities. He takes over from Colin Fan, who will move to London to become the co-head of global credit trading.

Mr Sebti’s move is part of an increasing trend of many well-known financial personnel who have been transferred to the region, such as Stephen Roach, chairman of Morgan Stanley in Asia, and Jonathan Anderson, chief economist for UBS Asia Pacific.

This move also highlights the growing significance of the region’s sovereign wealth funds particularly those in Dubai, Singapore and China, although it is not known which funds Deutsche works with.

Deutsche's Asia equity revenues rose by 80% in 2007, compared to an approximate 35% rise for the overall regional equities industry.

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