Deutsche Bank appoints new chairman of Corporate Finance in Asia

20 July 2010

Henry Cai is to take on the role of chairman of Corporate Finance, Asia and head of the Corporate and Investment Bank at Deutsche Bank’s business in China, the institution has announced.

According to the firm, the new post holder worked on many of the first listings of Chinese customers on the US stock exchange and Hong Kong’s H-share market.

The banker, who joins Deutsche Bank from UBS where he had been chairman of investment banking for its Asian unit, will take up the post in October and report to Robert Rankin, the bank’s chief executive officer in the Asia-Pacific.

Josef Ackermann, chairman of the Management Board and Group Executive Committee, said: "Henry's appointment demonstrates our resolve to achieve top tier status in all our investment banking businesses in Asia and in the important China market where we already have a strong and rapidly growing platform."

Robert Rankin added that Mr Cai has been involved in many of China’s “landmark” and “international” transactions.

Prior to UBS, the executive worked as head of Asia’s investment banking business at BNP Paribas Peregrine and with the Shanghai Muncipal government.

Meanwhile, Mr Ackermann said in an interview with the Wall Street Journal that the implementation of new legislation in Europe and the US will lead to Asia becoming a more important territory for the financial industry.

By Jim Ottewill

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