German banking group Deutsche Bank has named Lok Yim as the new chief country officer for its Hong Kong business.

Yim succeeds Peter Lo, who is set to retire after serving for 15 years at the firm. In the new capacity, he will report to the bank’s CEO for Asia Pacific and management board member Werner Steinmuller.

Yim currently serves as the head of Asian wealth management at Deutsche Bank, a role he will retain in addition to his new responsibility. He will continue to report to the bank’s global wealth management head Fabrizio Campelli in this role.

“The strength of our platform in Hong Kong is key to our success in Asia Pacific, and we are delighted that Lok will be taking on this critical role. Under Peter’s stewardship, our business in Hong Kong has grown in scale and sophistication alongside the city’s increasing importance in the global financial system, and we are grateful for his significant contributions,” Steinmuller noted.

Deutsche Bank has been beefing up its Asian team in the recent times. In December 2017, it hired six relationship managers to South-east Asian clients. Last month, it appointed Ingrid Widjaja as the new group head for client coverage for its Southeast Asia division.

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By GlobalData