Ravneet Gill had left Deutsche Bank early this year to head private lenders YES Bank. Since then, Khurshed Dordi has been handling the operations in India with the post of Chief Operating Officer for India for these 3-4 months. The board members have decided to make Kaushik Shaparia the CEO of the bank for India from May onwards.
With more than 30 years of experience, Shaparia already has held big positions at the bank. He last served as the Asia Pacific Head of Corporate Banking Coverage within Institutional and Treasury Coverage. Along with that, he was also the Global Head of Subsidiary Coverage. This just shows the immense faith the Bank has in Shaparia. With Ravneet Gill leaving at the start of the year after being at the helm for six years, everyone kind of knew that Kaushik Shaparia will be the successor to Ravneet Gill.
Kaushik Shaparia, an alumnus of IIM Ahmedabad, is another one of the innumerable Indians heading a huge company in the world, which has now become a norm from quite some time. With years of experience in the financial world and his leadership qualities, Shaparia is the best man to lead the operations in a country, which the German-based bank is looking at as a huge market.
With operations already in 58 different countries, Deutsche Bank is looking to improve its operations in the countries that already have their footprint. With such big numbers, Deutsche Bank is the world’s 15th biggest and the biggest in Germany with its headquarters in the city of Frankfurt. The 150-year old bank, like most other banks in the world, is coming out of a financial crisis that took place recently in 2012 and hence is looking for new leaders who can turn the tides in their favor. Ravneet Gill did a great job by coming at the helm right after the crisis and leading the bank to its present status in India. It is now in the hands of Kaushik Shaparia to how to expand and improve their services in a market like India, a tough one for foreign banks.