Hong Kong/ Singapore, August 19, 2009 ¡V Deutsche Bank today announced that in line with the strategic expansion of its Global Transaction Banking franchise in Asia, it has made the following
appointments:
Shivkumar Seerapu - Global Product Head of Financial Supply Chain and Regional Trade
Product Head for Asia
Eric Koo - Head of Global Transaction Banking, Hong Kong
Mrugank Paranjape ¡V Head of Domestic Custody Services, South & South East Asia
Ridzal Sheriff - Head of Global Transaction Banking, Malaysia
Jacqueline William - Chief Executive Officer of Deutsche Trustee Malaysia Berhard (DTMB)
Shivkumar Seerapu, currently the Regional Product Head for Trade Finance, Asia Pacific,
Deutsche Bank, has taken on the additional role as the Global Product Head of Financial Supply
Chain. He will continue to be based in Singapore.
Based in Hong Kong, as Head of Global Transaction Banking, Hong Kong, Eric Koo will be
responsible for spearheading Deutsche Bank¡¦s transaction banking strategies and aligning its
business plans with the region¡¦s priorities. Eric joined Deutsche Bank in 2006 as Head of Trade
Finance and Cash Management Corporates in Hong Kong where he has successfully built a
strong team focused on acquiring high quality clients and capturing trade flows across Greater
China whilst positioning Deutsche Bank as a strategic partner for regional treasury centres in Hong
Kong.
Mrugank Paranjape, Head of Domestic Custody Services, India, will now assume additional
responsibilities as Head of Domestic Custody Services, South & South East Asia with immediate
effect. The countries under Mrugank¡¦s remit are India, Indonesia, Malaysia, Pakistan, Singapore,
Sri Lanka, Thailand and Vietnam. Mrugank will continue to be based in Mumbai.
Ridzal Sheriff, currently the Chief Executive Officer of DTMB will succeed Rojeanne Sen as Head
of Global Transaction Banking and Domestic Custody Services for Deutsche Bank in Malaysia.
Rojeanne Sen, who has been with Deutsche Bank for 15 years will be retiring in November 2009.
Ridzal joined Deutsche Bank in 2007. In his new appointment, Ridzal will focus on growing the
Bank¡¦s transaction banking franchise in Malaysia through quality client acquisitions and targeted
market expansion. He will be based in Malaysia.
Jacqueline William, previously the Head of Client Services for Deutsche Bank¡¦s Domestic Custody Services business in Malaysia will succeed Ridzal as the Chief Executive Officer of DTMB. In her new role, Jacqueline will continue to drive strategy and grow the DTMB franchise.
Thomas DuCharme, Regional Head of Global Transaction Banking, Asia ex-Japan, Deutsche
Bank, said, ¡§We are convinced Asia will represent disproportionate amount of growth in trade
finance, cash management and custody in the coming years, so are very pleased to position our
high calibre talent to capture this next phase of growth in the region.
Friday, November 20, 2009
Wednesday, November 4, 2009
Index revives plan for India franchise
Index Living Mall Co, the Thai homefurnishing retail chain, is reviving its plan to open franchise stores in India after its first deal two years ago did not get through.
Jarinthorn Patamasatayasonthi, the company's managing director, said the business plan was reviewed after it was contacted by a new Indian investor,who had visited Index Living Mall in Dubai recently.
"We saw a huge opportunity in the Indian market because there are only conventional furniture stores available in the country. While the Indian economy is booming, there is less competition [in the segment] there," she said.
Index was in talks with another Indian investor in 2006 but the deal could not be concluded.
Verachai Kunavichayanont, vicechairman of the furniture club under the Federation of Thai Industries, said demand for Thai-made furniture in India gradually rises every year because products are cheaper than comparable designs from Western brands.
Thai furniture will enjoy an even greater competitive advantage after the free trade area agreement between Thailand and India takes effect next year. Under the FTA, the import tariff on furniture to India will be gradually cut to between zero and 5%, down from 35-40% at present, he said.
Currently, few Asian furniture brands are available in India, leaving Thai brands with much room and potential to expand their businesses.
As well as in India, the company is conducting a feasibility study to open new outlets through the franchise system in the Middle East, said Ms Jarinthorn.
At home, the company plans to spend 1 billion baht to open two more outlets in Bangkok next year in addition to the Bang Na branch, which is to be opened early next year under an earlier plan.
Moreover, the company plans to renovate its existing stores and to adjust product displays.
More designers will be hired to design home decorative items and furniture while the number of exclusive items available at its stores will be increased to 50% from 30% at present.These plans should help Index Living Mall differentiate itself from its rivals.
The company expects its sales to reach 7.5 billion baht this year. Of the total, about 2 billion baht will come from exports. Sales of Index in the first 10 months grew by 8%, slightly below its earlier projection of 10%. Business from Dubai has provided much of the company's sales.
Jarinthorn Patamasatayasonthi, the company's managing director, said the business plan was reviewed after it was contacted by a new Indian investor,who had visited Index Living Mall in Dubai recently.
"We saw a huge opportunity in the Indian market because there are only conventional furniture stores available in the country. While the Indian economy is booming, there is less competition [in the segment] there," she said.
Index was in talks with another Indian investor in 2006 but the deal could not be concluded.
Verachai Kunavichayanont, vicechairman of the furniture club under the Federation of Thai Industries, said demand for Thai-made furniture in India gradually rises every year because products are cheaper than comparable designs from Western brands.
Thai furniture will enjoy an even greater competitive advantage after the free trade area agreement between Thailand and India takes effect next year. Under the FTA, the import tariff on furniture to India will be gradually cut to between zero and 5%, down from 35-40% at present, he said.
Currently, few Asian furniture brands are available in India, leaving Thai brands with much room and potential to expand their businesses.
As well as in India, the company is conducting a feasibility study to open new outlets through the franchise system in the Middle East, said Ms Jarinthorn.
At home, the company plans to spend 1 billion baht to open two more outlets in Bangkok next year in addition to the Bang Na branch, which is to be opened early next year under an earlier plan.
Moreover, the company plans to renovate its existing stores and to adjust product displays.
More designers will be hired to design home decorative items and furniture while the number of exclusive items available at its stores will be increased to 50% from 30% at present.These plans should help Index Living Mall differentiate itself from its rivals.
The company expects its sales to reach 7.5 billion baht this year. Of the total, about 2 billion baht will come from exports. Sales of Index in the first 10 months grew by 8%, slightly below its earlier projection of 10%. Business from Dubai has provided much of the company's sales.
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