Deutsche Bank names new chief country officer in RP

Deutsche Bank announced the appointment of Enrico S. Cruz as chief country officer in the Philippines effective from July 1. Cruz replaces Michael Hellbeck who has been promoted and will be moving to Taiwan in the role of chief country officer and head of global banking division for Taiwan. In addition to his role as chief country officer, Cruz will continue to remain the head of global markets for the Philippines.

Cruz joined Deutsche Bank at the time the Manila branch was established in 1995 and is currently the head of global markets for Deutsche Bank in the Philippines overseeing the trading and sales activities in foreign exchange, money markets, fixed income, derivatives and debt capital markets. Prior to this, Cruz was a senior vice president at CityTrust Banking Corp.

In announcing the appointment Kenneth C. Borda, Deutsche Bank chief executive officer — Asia Pacific (ex Japan) said, "Eric Cruz has made a significant contribution t the establishment, development and market reputation of Deutsche Bank in the Philippines. During his two-year assignment Michael Hellbeck successfully built our business and positioned it well for future growth. With his strong market understanding and client-focused approach, Eric is well placed to capitalize on the momentum built and to lead the further expansion of our franchise in the Philippines."

Cruz said: "With its global strength and firm commitment to the Philippines, Deutsche Bank will be a leading participant in the continued development of the country’s financial markets. <