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Euromoney, April 13 2021

With Deutsche Bank apparently turning its fortunes around globally, expectations are high for Asia to deliver growth at the fastest rate of all its operations. Asia CEO Alex von zur Mühlen tells Euromoney he wants to use the bank’s footprint and diversity of revenues to get the job done.

One of the fashions of Asia-Pacific banking this year has been to point with pride to one’s geographical diversity.

Ever since HSBC intimated that it planned to put more resources into Asia beyond Greater China, other firms, notably Citi, have been quick to point out that they’re already being powered by multiple engines in Asia.

But there’s another hand in the air, one that has perhaps been overlooked: Deutsche Bank.

“We were profitable in our core business in all 14 markets in 2020,” says Alexander von zur Mühlen, chief executive for Asia Pacific at Deutsche, and a member of the management board.

The statistic will be a surprise to many in the region who have all but forgotten about Deutsche. One can perhaps understand the reasons: in investment banking, league tables still hold a certain tyranny, and Deutsche has disappeared from the big ones.

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Chris Wright
Chris Wright
Chris is a journalist specialising in business and financial journalism across Asia, Australia and the Middle East. He is Asia editor for Euromoney magazine and has written for publications including the Financial Times, Institutional Investor, Forbes, Asiamoney, the Australian Financial Review, Discovery Channel Magazine, Qantas: The Australian Way and BRW. He is the author of No More Worlds to Conquer, published by HarperCollins.

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