Deutsche Bank AG announced this Thursday that it has managed to recruit Samar Sen, a digital expert, as its Global Head of Digital Products, Securities Services. In his new role, Sen will help drive the German bank’s digital strategy for its securities services business.
Samar Sen
Source: LinkedIn
According to Sen’s LinkedIn profile, he commenced his role at the multinational firm in February of this year. He joins Deutsche from BNP Paribas SA, where he was most recently a director.
As the Global Head of Digital Products for Deutsche’s Securities Services unit, he will focus on digital strategy. In particular, he will be using Artificial Intelligence (AI) ) and distributed ledger technology, a report from Reuters states.
Sen originally joined BNP Paribas in August of 2014 as a Director of Business development. In this role, he helped to scale and build the asset management business of the firm, as well as led a pan-Asia strategy and Execution team, along with other duties.
In April of 2016, he was also named as the Head of Product, AI Virtual Advisor, a role he held concurrently with that of Director, Business Development.
As part of his more recent role, Sen applied AI technology to augment the wealth management business of BNP Paribas. He led an agile team of engineers, designers and growth hackers, his LinkedIn profile states.
Samar Sen Joins Deutsche Bank During a Difficult Time
Sen is joining Deutsche Bank at a precarious time. The German firm is currently the subject of a money-laundering investigation and only recently, had its offices raided.
Adding insult to injury, Deutsche Bank is being sued by Hamburg-based bank M.M. Warburg & Co. The firm is seeking €46 million ($52.04 million) which Deutsche was ordered to pay in capital gains tax.
The lawsuit, which was filed in December last year in a Frankfurt regional court, accuses Deutsche Bank of failing to withhold taxes of €46 million for a series of share trades. These allegedly took place in 2010 and 2011 as part of Deutsche’s role as a custodian bank.
