Gunit Chadha, the chief executive officer (CEO) of Deutsche Bank in the Asia Pacific region, has decided to step down from his post with effect from July 17, the bank said in a note on its website.
Chadha joined Deutsche Bank in 2003 as CEO of its India business, a post he held until his promotion to co-CEO of Asia Pacific in 2012. In that role, he oversaw the bank’s growth across multiple businesses, establishing its position as a leading investment and transaction bank in the country.
During Chadha’s tenure as the CEO of the India business, Deutsche Bank India grew from a company with under 500 employees to one with over 10,000 employees by 2012. His tenure also saw the beginning of the bank’s investment banking business in India and the start of the retail banking business as well.
Based on his strong performance in both roles, Deutsche Bank appointed Chadha the sole CEO of Asia Pacific in 2015. The bank said that it will announce Chadha’s successor in due course.