Deutsche Bank to open agency sec lending desk in Asia
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Deutsche Bank to open agency sec lending desk in Asia 18 May 2012New York Reporter: Mark Dugdale
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Deutsche Bank is planning to open an agency securities lending desk in Hong Kong in the second quarter of 2012 so that it can provide a better service to its clients in local Asian markets.
Greg Chamberlain, who recently joined Deutsche Bank, will lead agency securities lending trading operations in Asia and will be based in Hong Kong. Chamberlain previously worked at Barclays Capital and has more than 20 years of experience in the securities lending industry.
Chamberlain will report to John Schreyer, the head of agency securities lending trading in EMEA and Asia at Deutsche Bank.
“Deutsche Bank is dedicated to meeting the needs of our clients in Asia, and the establishment of an agency securities lending unit in Hong Kong demonstrates our commitment to the business,” said Mrugank Paranjape, the Asia head of direct securities services at Deutsche Bank. “This expansion of our footprint further strengthens our direct securities services franchise in Asia and
enhances the value we bring to our clients.”
Tim Smollen, the global head of agency securities lending at Deutsche Bank, added: “The Hong Kong desk will complete our agency securities lending coverage that is already in place in Frankfurt, London, New York, Poland and Turkey. We look forward to further supporting the agency securities lending needs of our clients by being in the same time zone, allowing us to best coordinate trading in local Asian markets.”
“In addition, we are pleased to welcome Chamberlain, who will leverage his more than 20 years of experience in the securities lending industry to help us increase our presence in Asia.”
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