As a result of a strategic alignment of Deutsche Bank’s Global Transaction Banking (GTB) business, Werner Steinmueller has been appointed global head of GTB. In his new function, Steinmueller will ensure a strong customer focus, enhanced regional alignment and closer cooperation between the GTB areas, claims the bank, which include cash management, trade finance and trust and securities services.

Reinhard Uhl remains global head of trade finance, but has taken on additional responsibility for corporate cash management. He reports to Steinmueller.

Steinmueller has over 20 years experience in the banking industry covering MNC clients across relationship management, investment banking and transaction banking. He joined Deutsche Bank in 1991 where – in his last position he was chief operating officer for GTB worldwide.

Steinmueller says: “We want to build on our established product expertise and our market-leading positions in the three regions where we operate: Europe, the Americas and Asia. Optimised coordination along both client groups, corporates and financial institutions, will deliver a further strengthening of our strategic position in our home market Europe, as well as an increased market share in both Asia and the Americas.”

As the key product within the Global Transaction Bank, cash management has created close to 50% of Deutsche Bank’s revenues.

Michael Cohrs, head of global banking, comments: “The global transaction bank is a strategic business within Deutsche’s global banking division. The combination of our coverage approach, a comprehensive range of products and our global network cements our position as a global leader. I am confident that our aligned approach will result in an increase in client satisfaction.”