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Mr Gunit Chadha, Country Head and CEO of Deutsche Bank in India, will join the top leadership of Germany’s largest bank when India-born Mr Anshu Jain takes over as its co-Chairman at the end of May.
Deutsche Bank’s supervisory board on Friday appointed Mr Chadha as a new member of the highly influential Group Executive Committee (GEC), which will be expanded from 12 to 18 members.
Mr Chadha, 50, will also become the co-head of the bank’s Asia-Pacific operation together with Mr Alan Cloete, head of global finance and foreign exchange based in London, Deutsche Bank said in a press statement after the board meeting.
The GEC comprises members of the management board and senior representatives of the bank’s business divisions and regional operations. It advises the seven-member management board on strategic decisions and assists in preparing the decisions to be made by the board.
Mr Jain, 49, will chair the GEC together with his designated co-CEO, Mr Juergen Fitschen, after they take over the reins of Deutsche Bank from Mr Josef Ackermann at the bank’s annual general meeting on May 31.
Mr Chadha has been a member of Deutsche Bank’s Asia-Pacific executive committee since January, 2005. He played a crucial role in building up the bank’s operations in India and contributed to the steady growth in its profits since joining the bank in August 2002.
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