Deutsche Bank has named Chandra Mallika as the new chief country officer for Singapore, reported Business Times citing an internal memo.

Mallika, who first joined the German bank in 1999, is currently also the bank’s COO for the Asia-Pacific region.

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She succeeds David Lynne, who will step up to lead Deutsche’s corporate banking unit globally.

In his new role, Mallika will be responsible for the bank’s regional business strategy, and risk management. She will also focus on the region’s diverse, evolving and complex regulatory environment and work to achieve operational efficiencies across the bank.

Deutsche Bank APAC chief executive Alexander von zur Muehlen said in the memo: “Chandra’s decades of experience with the bank and deep understanding of Singapore’s markets and banking landscape are a great asset, and ideally equip her to lead the platform in one of our key global hubs.”

Muehlen added: “Her appointment underscores the consistency in strong leadership for our Singapore franchise.

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“There is no better indication of the strength of our platform than the ability to fill key leadership roles like these with talent from our own bench.”

In addition to her current roles at Deutsche Bank, Mallika is a member of the board of the Ministry of Trade and Industry’s Competition and Consumer Commission of Singapore.

In September 2020, she was appointed a Justice of the Peace under the Prime Minister’s Office.

Prior to joining Deutsche, Mallika worked with the Monetary Authority of Singapore for 11 years. During this period, she served several key roles relating to banking supervision and financial centre development.

Last week, Deutsche Bank announced plans to establish its next technology centre in the German capital city of Berlin.