Deutsche Bank appoints new Australian chairman

Australian Banking & Finance, April 30, 2007

DEUTSCHE BANK HAS appointed John MacFarlane, the current CEO and chief country officer for Deutsche Bank Group in Japan, to the position of chairman of Deutsche Bank Group in Australia and New Zealand following the retirement of long-serving chairman, Mr Clive Smith.

Mr John MacFarlane, known as JT and not to be confused with his namesake John MacFarlane of ANZ, has been the CEO and chief country officer of Deutsche Bank Japan since 1999. Prior to this he was the CEO of Bankers Trust New Zealand, which was bought by Deutsche in 1998. Mr MacFarlane also has experience working in fixed income with Bankers Trust in Australia, the United States and New Zealand. Before joining Bankers Trust he was a financial markets economist with NMRB / Capel Court in Melbourne and also spent time working for the New Zealand Treasury.

Member of the Deutsche Group executive committee, Mr Juergen Fitschen, said "JT is an ideal successor to Clive as chairman, having worked collaboratively with local CEO Chum Darvall and the senior management in Australia for many years. Clients today need bankers who have global outlook and expertise. JT has that international perspective, a great depth of banking and management expertise, as well as considerable local experience."

Mr MacFarlane will relocate to Melbourne and will take up his new position in June. Deutsche Bank Australia has also announced plans to aggressively grow its Australian Asset Management business, focusing on alternative investments.

Source: Axiss Australia