Deutsche Securities Asia Limited (DSAL) expects to hire at least 20 qualified professionals for its new securities brokerage service in Taiwan.

The move follows the decision by the Securities and Futures Commission of Taiwan to award Deutsche a securities brokerage license.

“Deutsche Bank’s decision to apply for these licenses and establish a fully owned branch underscores the importance of the Taiwan market to the bank,” says T C Lee, Deutsche Bank’s chief country officer for Taiwan.

Ed Peter, Deutsche Bank's head of equities, Asia (ex-Japan), said the establishment of DSAL as a securities broker is "a major step towards building a comprehensive line of businesses in Taiwan".

DSAL is a branch of Deutsche Securities Asia, a wholly owned subsidiary of Deutsche Bank AG incorporated on Hong Kong.