Deutsche Bank plans to expand its equity capital markets and merger advisory operations in Asia to help push regional revenues above euro 4 billion ($5.5 billion) by 2011, says a media report.
The expansion is part of targets designed to broaden the European bank's regional platform.
In an interview to the 'Financial Times', Robert Rankin, chief executive of the bank's regional operations, said he had a strong mandate to expand its key business units.
"We think we can materially take market share and grow at a rate in excess of our competitors," Rankin said.
According to the publication, Deutsche Bank also plans to open more retail branches in India and China, as well as develop its three joint ventures in mainland China that span asset management, stock market listings and retail banking.
Rankin told FT that the bank's private wealth management division and its transaction banking unit, which helps companies manage their cash balances, each aimed to double revenues over the next three years.
He did not specify a hiring target but pledged "to acquire the talent we need in 'must-win' areas that are consistent with us being a top three investment bank".
Deutsche Bank, which operates in 17 Asian countries, owns coveted licences in China and India and maintained its regional headcount at 18,000 last year. The bank had regional revenues of euro 2 billion in 2008, or 18 per cent of the group total.
