July 14, 2016 / 9:21 AM / 2 years ago

Deutsche Bank names Steinmueller new CEO for Asia/Pacific

FRANKFURT, July 14 (Reuters) - Deutsche Bank has picked Werner Steinmueller to lead its business in the fast-growing Asia/Pacific region, where the lender operates in 16 countries and has about 20,000 staff, it said on Thursday.

Steinmueller will work from Hong Kong and be the first board member to be located in Asia.

In May, the manager told Reuters that Deutsche Bank expects to see strong growth in Asia for its global payments and trade financing business in the coming years, despite recent signs of emerging market cooling.

Steinmueller, 62, joined Deutsche Bank in 1991 and since 2004 ran the lender’s Global Transaction Banking unit, a role which will be filled by John Gibbons, who is joining the bank from JP Morgan. (Reporting by Arno Schuetze; Editing by Maria Sheahan)

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