In a major reorganization, Deutsche Bank has just announced that Jonathan Paul and Lee Zhang have been appointed co-heads of the firm's newly created global banking division for Asia-Pacific. The duo replace Frank Nash, who will retire to the US and Brian Stevenson, who leaves Deutsche at the end of October.
However, this is more than just a changing of the guard. Paul and Zhang's appointment marks a wholesale strategic shift. Paul was formerly chairman of Deutsche Bank's global markets business in the region, while Zhang built and ran Deutsche's China business. The new division they takeover has been reshaped to include transactional banking as well as investment banking products and...
