Deutsche Bank announces realignment of securities services business, new appointments

Deutsche Bank has realigned its securities services business, changing the name of the operation from Domestic Custody Services in the Global Transaction Banking division to Direct Securities Services (DSS).

DSS is made up of custody services, securities clearing, domestic fund services and agency securities lending units.

Tim Smollen will continue to be global head of agency securities lending, but other parts of the business will see reshuffles.

Rob Scott and Michael Aschauer have been named co-heads of global sales and relationship management and their remit includes ensuring that agency securities lending and domestic fund services are “fully integrated into the product offering to clients”.

Elsewhere, Thibaud de Maintenant has been named global head of domestic markets and Stephen Lomas becomes global head of custody and clearing.

Dinkar Jetley, global head of trust & securities services/cash management financial institutions, said: “The DSS business offers a powerful combination of products to a diverse client base. We intend to significantly grow our business by taking full advantage of this unique platform, strong network and extensive product expertise with a client-centric approach to the market.”

Roger Harrold, global head of DSS, added: “This new streamlined structure demonstrates our determination to keep the needs of our clients at the heart of our business and ensure we develop our product around the complex challenges they face in an increasingly regulated and constantly evolving market.”