Deutsche Bank’s Asia-Pacific revenue may expand 10% or more over the next three to five years, the bank’s co-chief executive officer for the region, Gunit Chadha, told Bloomberg.
The bank has already made many wealth management hires in the region and is planning to recruit more staff in its investment and transaction banking units.
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Chadha said that the firm thinks positive about Asia-Pacific and expects few markets within the region coming back into growth.
He added that he was confident of China’s leadership to manage transition to a more market-driven economy.
Deutsche Bank has posted a $118m loss for the three months through September after setting aside funds to settle legal investigations.
"We feel very good about the Asia Pacific and especially as we see some markets coming back into growth. The firm is "deeply invested" in 16 countries," Chadha was quoted as saying by the publication.
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By GlobalDataThe bank now employs around 18,000 people in Asia-Pacific.
