Deutsche Bank is to replace Colin Grassie with Robert Rankin as chief executive officer (CEO), Asia Pacific (ex Japan) from 10 June.

Rankin will be based in Hong Kong and will report to Juergen Fitschen, member of Deutsche Bank's Management Board and global head of regional management.

Fitschen said: "Asia has continuously grown its significance for Deutsche Bank's global franchise. Under Colin's stewardship we have gained market share in all our core businesses in Asia; we continued to invest and are committed to further expansion.
Robert is one of Asia's most high profile and successful investment bankers and his appointment highlights our considerable further ambitions in the region."

Prior to joining Deutsche Bank, Rankin was head of investment banking, Asia Pacific, at UBS.