Deutsche Bank has appointed Atul Jain and Oliver Resovac to jointly take the reins of its global trade finance and lending business.
Jain (pictured), based in Singapore, and Frankfurt-based Resovac take over the role from Daniel Schmand, who earlier this year became global head of institutional cash management and head of corporate bank operations at the German lender. They will report to Stefan Hoops, head of Deutsche’s corporate bank.
The bank says the double-headed structure reflects the changes in the trade finance industry in recent years “as technology, geopolitics, the pandemic and technology have rearranged the competitive landscape together with increased levels and complexity of risk”.
Jain, who Deutsche describes as “one the bank’s most seasoned trade finance experts” has been with the bank for over two decades, most recently running trade finance and lending for Asia Pacific.
Resovac has been with the bank for a similar period and enters the corporate banking fray from Deutsche’s investment bank, where he was head of illiquid and complex risk.
“The appointment of Atul and Oliver from within the bank demonstrates our expert bench strengths in trade finance,” says Hoops.
He adds: “With this co-leadership structure and Atul’s and Oliver’s home base in Germany and Asia Pacific, we are ideally positioned to further benefit from the growing importance of Asia Pacific for global trade.”
Originally Posted: https://www.gtreview.com/news/on-the-move/deutsche-bank-splits-trade-finance-leadership-across-europe-asia/