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Deutsche Bank to revamp operations

M. Ramesh

FRANKFURT, Dec. 5

DEUTSCHE Bank has announced its plans to reorganise its business into two groups -- corporate and institutional clients group and asset management & private clients group. This is the second time in three years that the bank is restructuring its operatio ns.

The bank's spokesman, Dr Ronald Weichert, told Business Line that till 1998, the bank largely comprised regional units, which functioned in their respective units as separate banks, each doing all aspects of banking.

In 1998, this structure was re-organised into five divisions -- private banking, corporate, global corporate, asset management and technology.

Now, this is again being recast into the two broad business groups -- corporate and international clients and asset management and private clients.

Dr Weichert said the corporate and institutional clients group would ``continue to build its highly successful trading and sales operation". With the objective to provide integrated customer solutions, all security services, cash management and trade fin ance business would be concentrated as global transaction services in this group.

The asset management and private clients group would comprise the asset management businesses and private client businesses. Further focus would be given to ``aggressively build e-brokerage and alternative investment capabilities and harmonise infrastruc ture and investment processes'', he said.

He said the bank's on-line customers were growing. Today, the bank had about one million on-line customers, double that of what it was one year ago, he said.

Not much for India operations

DR Ronald Weichert, the bank's spokesman, does not see any big expansion of Deutsche Bank's Indian operations, which is mainly focussed on private banking (or providing personalised services for high networth customers).

However, the bank is debating whether or not to extend its e-brokerage services globally. If it decides to do so, then the bank's Indian customers would get these services too.

Deutsche Bank has an India Fund, a mutual fund for investing in Indian equities. This fund has a invested $ 74 million in Indian stocks, with the majority of investments going into ITC, HLL and Infosys.

After posting a 140-per cent growth last year, this fund lost 37 per cent this year, he said.