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Zar Amrolia has been appointed global head of foreign exchange at Deutsche Bank. His promotion is one of a number of senior-level changes at the bank. Amrolia replaces Jim Turley, who had the wider role of head of global currencies and commodities. In turn, Turley has moved to become global head of the institutional client group, replacing Brian Reid, who is taking a sabbatical after 21 years in the industry. Sources say that Reid intends to return to Deutsche in 2007. Someone familiar with Deutsche’s structure described Turley’s new role as “huge”. He will have global responsibility for the bank’s institutional investors and hedge funds.
Amrolia, who was previously global head of foreign exchange sales, will continue to be based in London. He is in his second stint at Deutsche, following four years at Goldman Sachs between 2000 and 2004, and will report to Alan Cloete, head of global finance & foreign exchange.
Achievements
Cloete said in a press release: “Foreign exchange is a core business for Deutsche Bank. Our ability to achieve market leadership in foreign exchange was one of the earliest signs of our having broken into the bulge bracket and it remains one of our proudest achievements.