Scot is new head of UK operation for global giant Deutsche Bank

Published on Wednesday 17 June 2009 21:24

A SCOT who sits on the boards of both the Fettes College and Winning Scotland Foundations has been appointed chief executive of Deutsche Bank's UK operations.

Colin Grassie, 48, will be responsible for the development of Deutsche Bank's UK franchise, including "relationships with the government, regulators and key clients".

He will also chair the bank's UK governance and executive management committees.

Grassie, who most recently served for four years as chief executive officer of Deutsche Bank in Asia-Pacific, takes up the new post on 1 August, 2009.

Jurgen Fitschen, head of regional management at Deutsche Bank, said: "Colin's record of achievement in growing our Asia-Pacific franchise gives us confidence that he will bring about further growth for the bank in the United Kingdom.

"We are investing in our UK franchise and using our leading presence in London as one strong hub from which to serve clients throughout Europe."

In addition, Charles Aldington, chairman of Deutsche Bank London, is to become a senior adviser on selected UK client relationships.

Deutsche Bank employs more than 8,000 in the UK, and is one of the biggest employers in the City of London.

Grassie joined the German bank in 1995 and, before relocating to Asia, was head of global markets in Europe, excluding Germany.

He previously held a number of senior positions in fixed-income sales in London, New York, Hong Kong and Tokyo.

Grassie was born in Glasgow, and went to prep school in Moffat, followed by Fettes College, Edinburgh.

The Winning Scotland Foundation, which he supports by sitting on the board, is the independent business-led charity that was the brainchild of Cairn Energy chief executive and former Scotland rugby international Sir Bill Gammell.

It aims which aims to promote excellence and a winning mentality in Scotland.

Described as a "huge sports fan" himself, Grassie has completed eight Ironman triathlons, reaching the world championships in Hawaii in 2007.