Deutsche Bank has reshuffled its securities services and securities lending teams, with Steven Hondelink set to join the corporate arm of the bank to become head of securities services and agency lending for Europe, the Middle East, and Africa (EMEA).
In a memo seen by AST, Deutsche Bank’s global head of securities services and Americas head of corporate banking, Michaela Ludbrook, announced that Hondelink will focus on the strategic positioning of the business in EMEA.
Based in Frankfurt, Hondelink will carry out his new role while also continuing to focus on his current duties as head of the Capital Release Group- Germany (CRG).
He has 25 years of industry experience and has been at Deutsche Bank since 2001. During this time, he has held various senior positions in global equities and the CRG.
Also in the memo, Ludbrook highlighted that Deutsche Bank’s EMEA head of securities services, James Cox, has decided to take up a new role within the bank with more details to follow shortly.
On this, Ludbrook said: “I would like to thank Cox for his contributions to securities services, wishing him all the best in his new position.”
Cox has been with the bank for 18 years. Prior to his role as EMEA head of securities services, he served as global COO of securities services, COO global transaction bank EMEA, excluding Germany.
Elsewhere at Deutsche Bank, Ludbrook noted that Rebekah Flohr has been appointed global head of agency securities lending, in addition to her existing roles managing global sales and securities services in the Americas.
Flohr’s new appointment makes her the first female global head of agency securities lending at the bank.
According to Ludbrook, Flohr will be instrumental in driving the next generation of agency securities lending products and cross-divisional solutions in her new capacity.
“Drawing from her rich experience from various senior positions across both the Investment Bank and Corporate Bank, Flohr is well positioned to drive collaboration across the Corporate Bank as well as the other divisions at Deutsche Bank," Ludbrook said.
Flohr commented: “With the skillful and capable team we have in place, I feel great about achieving continued performance for our clients as well as shaping enhanced delivery and client experience going forward.”
Elsewhere, Iain Macara and Peter Liberatore have been appointed COOs for Deutsche Bank's securities services business.
Macara will focus on strategy, governance and client analytics, while Liberatore will be responsible for resource management and administration.
Flohr and Hondelink will report to Ludbrook, while Macara and Liberatore will report to Paul Maley, head of Deutsche Bank’s corporate bank arm in the UK and Ireland.
All those taking on new roles will all also join the bank’s Securities Services and Agency Securities Lending executive council.
Commenting on the new changes, Ludbrook said: “Please join me in welcoming Hondelink to corporate bank and wishing the new securities services and agency securities lending team every success in their roles.”
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