As a result of a strategic alignment of Deutsche Bank's Global Transaction Banking (GTB) business, Werner Steinmueller has been appointed Global Head of GTB.
In his new function, Werner will ensure a strong customer focus, enhanced regional alignment and closer cooperation between the GTB areas, which include Cash Management, Trade Finance and Trust & Securities Services.
Werner has over 20 years' experience in the banking industry covering MNC clients across Relationship Management, Investment Banking and Transaction Banking. He joined Deutsche Bank in 1991 where – in his last position he was Chief Operating Officer for GTB worldwide.
Werner Steinmueller says: "We want to build on our established product expertise and our marketleading positions in the three regions where we operate: Europe, the Americas and Asia. Optimized coordination along both client groups, Corporates and Financial Institutions, will deliver a further strengthening of our strategic position in our home market Europe, as well as an increased market share in both Asia and the Americas."
As the key product within the Global Transaction Bank creating close to 50% of its revenues, Deutsche Bank's Cash Management has been consistently both the #1 Euro clearer and the #4 USD clearer, and has a dominant #1 position for Corporate services in Europe as well as #3 in Asia. Trade Finance ranks amongst the foremost arrangers of global trade finance loans and has been voted by clients "Best Trade Documentation Bank" and "Best ShortTerm Trade Finance bank" for three consecutive years. Trust & Securities Services is a leading global provider of trustee, agency and administrative services for debt and equities, including the #1 trustee for US asset backed and 2 mortgage backed securities in 2004, and provides custody services in 26 domestic markets.
Michael Cohrs, Head of Global Banking, comments: "The Global Transaction Bank is a strategic business within Deutsche's Global Banking division. The combination of our coverage approach, a comprehensive range of products and our global network cements our position as a global leader. I am confident that our aligned approach will result in an increase in client satisfaction."