Gunit Chadha quits Deutsche Bank as head of Asia Pacific
Posted on:14 Jun 2016 18:05:17
14 June 2016 Current Affairs: Deutsche Bank, Germany’s largest lender has announced that Gunit Chadha, the chief executive officer for Asia Pacific will be leaving the company next month.
As per an internal note reviewed by Business Standard,Deutsche Bank CEO John Cryan has said that Chadha will leave effective July 17 and that the lender will announce a successor in due course. The note doesn’t mention any reasons for Chadha’s departure from the company.
Gunit was appointed as Co-CEO for Asia Pacific and sole CEO in 2015. During this period our businesses in Asia Pacific delivered substantial growth coupled with increased profitability
Chadha was responsible for business across 16 countries that included India, ASEAN, Greater China, Australia & Japan. The APAC region was considered to be one of a significant contributor to the business with 5 of the top 10 countries globally for Deutsche Bank (by Profits before Tax) coming from Asia Pacific.
During 2012-2015, under Chadha’s leadership the profits from the APAC region more than doubled with the revenues in Asia Pacific touching a record of EUR 4.4 bn (Rs 33,290 crores).
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