7/16/2020, 8:45 AM (Source: TeleTrader)
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Deutsche Bank Asia's new CEO relocating HK base

Deutsche Bank’s new Chief Executive for the Asia-Pacific region, Alexander von zur Muehlen, is relocating the company's base from Hong Kong to Singapore.

Muehlen, who will officially take the post in August, comes at a difficult time as China's new security law on Hong Kong has significantly destabilized the region. Commenting on the move, Deutsche Bank previously explained that it "has, and always has had a dual hub structure for the region."

German Chancellor Angela Markel recently also commented on relations with China, saying that Beijing's law remains a "difficult issue" for Berlin, as it erodes the "one country, two systems" principle.

Baha Breaking News (BBN) / ND