Lo succeeds Clark de Waal who has decided to relinquish the position to focus on his role as head of global banking division - financial institutions, Asia Pacific. Lo joined Deutsche Bank in May 2002 from Bank of America where he spent 26 years in Hong Kong, New York and Toronto. Immediately prior to joining Deutsche, he was managing director and head of corporate banking, Hong Kong where he was responsible for major corporate and MNC coverage.

Lo's principle responsibility will be Hong Kong corporates and to handle the bank's relationship with local regulators.

No change in direction is anticipated at Deutsche given the bank's belief in its current strategy.

Lo says, "Deutsche Bank's franchise in Hong Kong has never been stronger. In fact over the last few years, markets may have been challenging, but our franchise here has grown both in terms of equities market share, global markets strength and in the breadth of our advisory mandates."

In announcing the appointment, Ken Borda, CEO, Deutsche Bank, Asia Pacific says, "We have considerable momentum and potential in our business, particularly in North Asia. Peter's appointment provides additional management structure to cater for growth and to expand our client coverage in Hong Kong and the broader region."