Mumbai, Aug. 21: Gunit Chadha, who placed IDBI Bank among the leading domestic private sector banks, has taken over as chief country officer of Deutsche Bank.
Chadha will take on the new responsibility from August 22 and will report to Kenneth C. Borda, chief executive officer, Deutsche Bank, Asia Pacific ex-Japan.
Chadha’s arrival is expected to fuel the bank’s expansion in India in the corporate sector. Senior bank officials, however, have ruled out any foray into retail banking.
Chadha will take over from Douglas Neilson, who will retain his existing responsibilities as regional head of credit risk management for India, Pakistan, Sri Lanka and Thailand.
The bank has identified significant growth potential that can be achieved by leveraging the existing corporate banking strengths and delivering its entire investment banking, asset management and private wealth management platform to clients.