Deutsche Bank Asia CEO Picks Singapore in Snub to Hong Kong

Deutsche Bank AG’s new Asia chief executive officer will be based in Singapore, picking the city over Hong Kong at a volatile time for the Chinese territory.

Alexander von zur Muehlen, the new CEO for Asia-Pacific, is relocating from Frankfurt when he takes over the job at the start of next month, according to a bank spokeswoman. His predecessor, Hong Kong-based Werner Steinmueller, is retiring at the end of July. Kamran Khan, the bank’s new head of environmental, social and governance for the region, will also be based in Singapore, moving from the U.S.