Deutsche Bank created a global head of funds services function as the company made changes affecting its securities services business.
Mike Hughes has been appointed to the role, which combines oversight of alternative fund services and domestic funds services.
The two units are within Deutsche’s trust & securities services and cash management for financial institutions (TSS/CMFI) business, which is part of the global transaction banking unit.
The new role will increase Deutsche’s focus on the non-bank financial institution segment.
Hughes is also country head for the UK, Channel Islands and Ireland in the banks global transaction banking unit and will keep this role.
Among other appointments were four TSS/CMFI regional heads. These are: Gary Vaughan, region head for the Americas; Mrugank Paranjape, region head in Asia; Jose Sicilia, region head in Western Europe; Sriram Iyer, region head in Central & Eastern Europe, Middle East and Africa.
Satvinder Singh, global head of TSS/CMFI, said the “improvements” to the business model will strengthen the business’s ability to “help clients navigate and succeed in today’s challenging environment”.
©2012 funds europe
