It is also learnt that Deutche bank has initiated a search for a new head of its private wealth management business in India
Deutsche Bank, one of the leading international financial service providers, plans to move almost half of its back-office jobs to India by the end of next year, according to a media report.
Deutsche Bank plans to increase its presence in India by opening eight more branches in a couple of months and strengthen its retail portfolio.
The academic prize is sponsored by the Deutsche Bank Donation Fund and carries an endowment of euro 50,000.
Deutsche Bank India CEO has grand plans for the region.
Enthused by over 6 per cent growth of the Indian economy, Deutsche Bank AG on Monday announced plans to invest $140 million in two of its arms in India, which is one of its "key market".
Deutsche Bank in India has managed to avoid the bad-loan problems plaguing its rivals such as Standard Chartered Plc.
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
With a market share of 16.6 per cent in mergers and acquisitions and 14.2 per cent in fund raising through the equity route, the investment banking arm of the German financial behemoth has become the numero uno investment bank in the country.
India's top golfer will rub shoulders with the world's leading golfers in the May 20-23 Euro three million tournament.
Last month, German lender said it was co-operating with regulators in global foreign exchange probe.
The brokerage, which previously had a target of 31,000, cited global growth concerns for revision in the target.
The brokerage said it expected corporate earnings to turn around.
UBS reduced its Nifty target to 8,600 by December from 9,200.
Indian economy grew 7.9% in March quarter and recorded a five-year high growth rate of 7.6% for the 2015-16 fiscal
US interest rate normalisation policy is likely to keep global FX markets volatile.
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The government on Tuesday announced a host of measures to tame inflation, which had soared to a five-month high of 6.01 per cent in May.
Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
Gill, who studied at Modern School and Hindu College in Delhi, joined Deutsche Bank in 1991 and became its India CEO in 2012.
Deutsche Bank on Monday completed the first forex option transaction in India. The transaction, which was a 6-month dollar/rupee risk reversal, was inked by Deutsche Bank for Reliance in Mumbai, an official release said.
National carrier Air India has tied up with Deutsche Bank and the British lender Investec Bank to raise up to $500 million to take the delivery of five Boeing Dreamliners, according to airline sources.
Neo banks, along with mid-sized banks, are establishing global capability centres (GCCs) in India, mirroring the expansion strategies of larger global counterparts. This trend is being seen as the next major wave in the country's banking, financial services, and insurance (BFSI) sector.
Deutsche Bank is bullish on engineering, consultancy and pharmaceutical industries in India.
'India is quickly becoming the beating heart of modern chess, and its role as an economic power is more and more visible.'
It believes that BSE Sensex will reach 22,500 by December-end.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
Major recruiters, with double-digit offers at IIT campuses this year so far, include American Express, Barclays, BCG, Cars24, Deutsche Bank, Goldman Sachs, Google, Intel India, Meesho, Micron Technology, Microsoft, OLA, Oracle, Reliance, and Qualcomm.
The Reserve Bank of India (RBI) has approved IndusInd Bank's request to form an executive committee to discharge the duties and responsibilities of the chief executive officer (CEO) for a period of maximum three months or till a new CEO takes charge, whichever is earlier.
Global capability centres (GCCs) are increasingly looking to tap into revenue opportunities from the Indian market, which is already a critical talent hub. While capturing the potential of the Indian market has been in the works over the past few years, it's only of late that companies are gaining momentum. India is home to more than 1,580 GCCs, with a total market size of $46 billion and growing at a compound annual growth rate (CAGR) of 11.4 per cent, according to a Nasscom-Zinnov report.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
Foreign investment in bonds issued by Indian corporates touched a 10-year high in May at 20,996 crore, driven by $3.35 billion fundraise by the Shapoorji Pallonji (SP) group, which saw infusion from Deutsche Bank, BlackRock, Morgan Stanley, Davidson Kempner, and Cerberus Capital, among others. The SP group sold three-year bonds, offering 19.75 per cent yield compounded annually and payable at maturity.
The rupee will be a key determinant for stock markets.
An official close to the development said the tender invited by the SUUTI closed in the second week of this month and 12 parties submitted their expressions of interest.
'MNCs now recognise India's capacity for innovation and its pivotal role in substantive contributions to global product development.'
Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of Australia have scaled down their operations in India. In a mega-deal announcement on Wednesday, Axis Bank and Citibank said their boards have approved acquisition of Citibank's consumer businesses in India by Axis Bank.
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