Deutsche Bank, a leading German financial services provider, has selected Darren Boulos to strengthen its global forex efforts in the Asia Pacific (APAC) region.
Boulos intends to act in the capacity of Co-Head of GFX for APAC, Deutsche Bank announced in a media release on Friday.
He will step into Lee Merchant’s shoes as the latter recently relocated to London to lead Deutsche Bank’s spot trading team.
Deutsche Bank, which recently appointed James von Moltke as President, said it will announce the other APAC co-head “in due course.”
Previously, Boulos was Deutsche Bank’s Managing Director for Australia between 2006 and 2015.
He is rejoining the German investment bank after spending more than five years at the Bank of New York Mellon Corporation (BNY Mellon).
At BNY Mellon, an American investment banking services holding company, Boulos served as the Head of FX Sales and Trading for APAC.
According to Deutsche Bank, Boulos, who left BNY Mellon in December last year, spent almost a decade as Head of FIC at its subsidiary in Australia.
“During his over three-decade career, Darren has held key FIC roles across Sydney, Singapore, London and Tokyo,” the German bank said in the statement.
“I am grateful and excited to be heading back to the No1 ranked FX bank in the world as co-head of APAC FX based in Sydney,” Boulos wrote on his LinkedIn page.
‘GFX Franchise’
Deutsche Bank’s net profit hit €2.5 billion in 2021. It said this was the highest level reached since 2011.
Russell LaScala, Deutsche Bank’s Global Head of FX, noted that Boulos’ appointment is to help drive the bank's forex growth in the APAC region.
“As we continue to invest in areas where we see considerable opportunity, we look forward to having Darren rejoin the team to help drive our leading GFX franchise across Asia Pacific, the growth engine for our bank,” LaScala said.
Glenn Morgan, Deutsche Bank’s CEO for Australia, emphasised the bank’s drive to top its forex service.
“We look forward to welcoming Darren back to Deutsche Bank in Australia and further developing our position as one of Deutsche Bank’s global FX hubs,” Morgan added.
A few weeks ago, Deutsche Bank’s DWS CEO, Asoka Woehrmann, resigned hours after the asset manager faced allegations of ‘greenwashing'.
According to prosecutors, initial investigations indicated that environmental, social and governance criteria were not taken into account in most of the funds featured in the company’s sales brochures.
