Rags Raghavan is to become country chief of Deutsche Bank's Thai operations following the departure of Nissanke Weerasinghe, who is leaving the bank to return to Washington DC.

Currently the head of global markets in Thailand, Raghavan oversees foreign exchange, money markets, OTC derivatives, fixed income, and debt capital markets. He will continue to remain in this position in addition to his new role.

"Rags has led the highly successful development and expansion of our global markets business in Thailand for over five years," says Kenneth C Borda, Deutsche Bank chief executive office for Asia Pacific (ex Japan). "He knows the market and our clients in Thailand well and is ideally placed to lead our future growth at a time of considerable opportunity for the development of our key businesses."

Commenting on the future strategy for DB Thailand, Raghavan says, "We will continue to develop and introduce new products and services in our global markets business to meet client needs for sophisticated risk management solutions. Corporate finance, equities, and asset management are also business areas that hold considerable growth potential for us."