In its Taipei offices, Deutsche Bank has announced the appointment of James Wu as its new chief country officer for Taiwan, subject to the regulators' approval. With immediate effect, Wu reports to Colin Grassie, chief executive officer of Deutsche Bank, Asia-Pacific.

Wu makes the move from Citigroup and will assume responsibility for DeutscheÆs overall strategy and governance in Taiwan. He replaces Michael Hellbeck, who in the summer of 2005 was relocated to Seoul by Deutsche to take on the role of chief operating officer, and deputy chief country officer for Korea.

Since the reassigning of Hellbeck, WuÆs new post was held by Cynthia Chan, who was acting chief country officer for Taiwan. She held this role in tandem with her present position of head of global markets, Taiwan.

At Citigroup, Wu was vice chairman, corporate and investment banking, Taiwan. In addition to this role, he has also held the positions of president of Fubon Bank and chief country officer for Fidelity Investments in Taiwan.

His experience extends to Bankers Trust in Tokyo, New York and Taipei and he began his financial career with Chase Manhattan Bank.