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Deutsche Bank Strengthens Finance in the US

Deutsche Bank today announced that Barry Massaro has joined as a Managing Director and Director of Finance for the US Broker-Dealer of Deutsche Bank AG, reporting to Eric Smith, Chief Financial Officer of the Americas.

In addition, the Bank has appointed Mary Chen-Eng to the role of Chief Operating Officer for Regulatory Initiatives within Finance, where she will focus on establishing an Intermediate Holding Company (IHC) under the Enhanced Prudential Standards set forth by the Federal Reserve Board. Chen-Eng will continue to report to Smith.

Massaro joins from HSBC where he spent the past 13 years, most recently as head of regulatory reporting for HSBC North America and chief financial officer of HSBC Securities USA.

Eric Smith said: “As our US business continues to thrive and we remain committed to the region, we will continue to invest in the robust reporting infrastructure necessary to support this growth.”

As previously announced, Deutsche Bank is hiring 500 employees across its various control functions as part of a group of 1,300 people dedicated to ensuring that its systems and controls are best in class.

Earlier this year the Bank announced the hire of Jan Ford as Head of Compliance, Americas and Richard Shannon as Americas Chief Information Officer and Co-Head of Group Technology and Operations Americas.

Deutsche Bank is a leading client-centric global universal bank serving 28 million clients worldwide. Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.