Deutsche Bank’s restructuring is well under way, and Stefan Hoops, the recently appointed head of the corporate banking division, believes the new structure is already paying dividends for the business and the bank.
“The benefits should be reflected in our 2019 financial results,” he tells Euromoney.
Announced by CEO Christian Sewing in July, the bank’s transformation focuses on four pillars – corporate banking, investment banking, private banking and asset management.
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Stefan Hoops, |
Under Hoops, the bank’s capital markets and transaction banking businesses were brought together under corporate banking, due to the overlap in terms of the client base served.
In addition, smaller corporates, previously serviced by the bank’s retail franchise, are now being served alongside larger corporates within the corporate banking division. This involves one combined salesforce selling a range of products – from FX, hedging and structuring – to all corporate client customers.
Hoops is also responsible for the refocus on Deutsche’s corporate banking business in Asia, which he believes can be a natural alternative to the US corporate banks doing business in the region.