Deutsche Asset & Wealth Management (DeAWM) has launched new securities lending desk in Hong Kong to better service the needs of clients in local Asian markets.
The lending desk will also boost the firm’s Asia Pacific securities lending coverage.
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The new securities lending desk will be led by vice president Mike Steinbrecher, who has moved to Hong Kong to provide Asia Pacific coverage and manage daily trading operations.
The securities lending desk aims to capitalize on local flow business from major prime brokers, new markets and new asset opportunities within DeAWM.
The firm’s Frankfurt office will continue to manage daily trading operations globally (ex-Asia).
Dirk Bruckmann, global head of securities lending for Deutsche AWM said: "The Hong Kong desk represents a major step forward for our Securities Lending business. It allows us to better serve our clients and is a major milestone towards our vision of providing Deutsche AWM clients a truly global product offering.
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By GlobalData"The new desk will serve to open up new markets for our business, including Taiwan, which will coincide with the launch of our Hong Kong desk. We look forward to strengthening our relationships with existing borrowers and developing relationships with new borrowers," he added.
