Deutsche Bank AG is seeking to bolster its financing business in Asia and is creating new roles in its efforts to boost revenue in the region.
Rahul Chawla, who was co-head of the investment banking coverage in India, will take on the newly-created role of Head of Financial Sponsor Financing for Asia at the bank, a spokesperson for the bank said, in response to queries from Bloomberg News. Deutsche Bank is also working with a search firm to hire more people for financing roles in the region, according to people familiar with the matter, asking not to be identified as the information is not public.
The move comes as private equity firms and their deals become an important source of business for banks, many of whom have set up separate units to cater to their needs. Chawla, a managing director, will relocate to Singapore from Mumbai later this year, the people said.
Separately, Apoorv Madhup, who was promoted as managing director for global financing and credit trading in March, will take on the role of Head of India Financing, according to the spokesperson.
Deutsche Bank also promoted Mumbai-based Sameer Gupta to become head of Southeast Asia for debt capital management, the spokesperson said, declining to comment on efforts to hire more bankers in financing roles.
