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Bloomberg
Deutsche Bank AG’s Southeast Asia vice chairman Philip Lee is leaving the German lender, capping a string of senior departures in the region.
Lee, also the chief country officer for Singapore, is departing to pursue other interests, after building out the bank’s Southeast Asia client franchise over the past
five years, according to an internal memo obtained by Bloomberg. David Lynne, who leads its global transaction banking team in Asia Pacific, will become Singapore chief country officer, the memo shows.
Lynne will keep his existing positions, which also include a role as head of fixed income and currencies for the region, according to the memo. Deutsche Bank is appointing Asia Pacific Chief Operating Officer Chandra Mallika as deputy chief country officer for Singapore, the memo shows. Under CEO Christian Sewing, Deutsche Bank is accelerating a push to concentrate more on European customers and pare operations where it isn’t competitive.