(Bloomberg) -- Deutsche Bank AG’s head of financial sponsor financing for Asia Rahul Chawla is leaving the firm to pursue his personal interests, according to people familiar with the matter.
Chawla has resigned, said the people, asking not to be identified as the information is not public. He was appointed last year to the role, which was based in Singapore, Bloomberg reported in August. Prior to the appointment, Chawla was the co-head of investment banking coverage in India, and has been with the bank for about 10 years, according to his LinkedIn profile.
A spokesperson for Deutsche Bank declined to comment.
The German lender announced internally last week that it hired UBS Group AG banker Deepak Dangayach as head of financing origination for financial sponsors in Asia Pacific, as it seeks to strengthen this business in the region, Bloomberg reported on Friday. Deutsche Bank has been hiring in Asia and has made senior hires in investment banking across the region from the likes of Morgan Stanley and Credit Suisse, among others.
Private equity firms and their deals continue to be an important for banks, many of whom have set up separate units to cater to their needs. About 78% of private credit deal volume in the US goes to PE-sponsored firms, according to a recent report by the Bank for International Settlements.
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