Deutsche has created an investor services business within its trust and securities services/cash management financial institutions, appointing Rafael Moral as global head of the business.
The business is made up of custody and clearing, agency securities lending, and fund services.
These three businesses previously formed direct securities services (DSS), but their repositioning as investor services is a reflection of their importance, the opportunities for realising synergies, and clients' increasing demand for solutions spanning these products, said an internal memo.
Moral will become global head of investor services, reporting to Satvinder Singh, effective June 2014.
For the past three years, Moral led global transaction bank’s (GTB) strategy and business development function after joining GTB as COO of Germany in 2010.
Prior to that, he spent eight years with group strategy at Deutsche, most recently as head of APAC, following roles in the Americas and in Europe.
Thibaud de Maintenant, current head of DSS, has been appointed GTB head of France. His appointment reflects the importance the bank places on Europe’s 3rd largest economy and its ambitions for this market, said the memo.
He will begin his new role in July 2014 and will report to Stefan Bender, GTB head of EMEA.
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