Deutsche Bank's new Asia CEO picks Singapore over Hong Kong

The bank's new APAC ESG head will also be moving to the Lion City.

Deutsche Bank’s new Asia chief executive Alexander von zur Muehlen will be relocating to Singapore instead of Hong Kong when he takes over the job next month, reports Bloomberg.

His predecessor, Hong Kong-based Werner Steinmuller is retiring at the end of July.

Kamran Khan, the bank’s new head of environmental, social and governance for the region, will also be based in Singapore, moving from the United States.

The decision comes as Hong Kong is embroiled in political woes after more than a year of anti-government protests and now in the middle of a broader fight between the US and China.

Here’s more from Bloomberg.