Deutsche Bank has announced a realignment of its custody and related businesses around three core pillars; clients, products and regions. The business, formerly known as domestic custody services in the global transaction banking division, has been renamed Direct Securities Services (DSS), comprised of the existing custody services, securities clearing, domestic fund services and agency securities lending units.At the same time the bank announced a number of new staff appointments in DSS: Rob Scott and Michael Aschauer become co-heads of global sales and relationship management, whilst Thibaud de Maintenant becomes global head of domestic markets, unifying responsibility for all regions and domestic markets, as well as retaining responsibility for domestic fund services globally. Stephen Lomas becomes global head of custody and clearing. In this role he will focus on ensuring the business delivers a robust product offering across all markets, with preparation for the implementation of Target 2 Securities in Europe a key priority.
All these new appointments will report to Roger Harrold, global head of direct securities services.
