Deutsche Bank has announced that Gunit Chadha and Alan Cloete have been appointed co-CEO's of Deutsche Bank Asia Pacific, effective June 1. Both will also join the bank's Global Group Executive Committee.

Gunit Chadha is now Deutsche Bank's CEO India and Alan Cloete is Head of Global Finance and Foreign Exchange. The present CEO of Asia Pacific, Robert Rankin, has been appointed co-Head of Corporate Banking and Securities and Head of Corporate Finance effective from June 1.

Mr. Chadha will initially be based in Mumbai, where half of Deutsche Bank's 18,000 employees in Asia are located, moving to Singapore in due course, and Mr. Cloete in Hong Kong.