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<keyword id="165519" type="PERSON" weightage="100" keywordseo="Gunit-Chadha">Gunit Chadha</keyword>, the CEO of <keyword id="3415250" type="ORGANIZATION" weightage="100" keywordseo="deutsche-bank-asia-pacific">Deutsche Bank Asia Pacific</keyword>, has quit the Germany-based bank after a long stint of 13 years. 
 The message was conveyed to the employees via a short message on the bank's website, in which <keyword id="6357341" type="CITY" weightage="100" keywordseo="Deutsche-Bank">Deutsche Bank</keyword> CEO <keyword id="301744" type="PERSON" weightage="100" keywordseo="John-Cryan">John Cryan</keyword> said that Chadha has decided to move on effective July 17; the reason was not revealed, however. 
 
Chadha (54) has started his career with Citibank, later enjoying a three-year stint as MD and CEO of IDBI Bank. It was in 2003 that he had joined Deutsche Bank as its India CEO. 
 
He was later appointed as the co-CEO for Asia Pacific, a role that was later elevated to the post of sole CEO last year. He was, as per his last role, overseeing business in 16 countries in the Asia Pacific region. 
 
The bank is looking for his replacement, the selection of which would be announced in due course. 
 
<a href="http://assets.bwbx.io/images/users/iqjWHBFdfxIU/imhjLCs0dfjc/v1/-1x-1.jpg">Image source</a>

Gunit Chadha quits Deutsche Bank Asia after 13 years, cites no reason

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">(AP Photo/Thanassis Stavrakis)Russian supporters charges at England fans in the stands at the end of the Euro 2016 Group B soccer match between England and Russia, at the Velodrome stadium in Marseille, France, Saturday, June 11, 2016.</div></div></div>Good morning! Here's what you need to know. German bonds went negative. Fears of a possible Brexit and economic concerns pushed yields on Germany's sovereign debt into negative territory for the first time on Tuesday, meaning investors are willing to actually <a href="http://www.businessinsider.com/afp-brexit-fears-drive-german-bond-yields-to-below-zero-2016-6">pay to hold German government debt rather than receive any return.</a>There's still a lot of oil. A huge overhang in oil stocks lingering across the world will keep a cap on any further oil price rises, the IEA said, even as supply and demand <a href="http://www.businessinsider.com/afp-enormous-inventories-to-keep-lid-on-oil-price-iea-2016-6">move towards balance by the end of the year.</a>The EU is struggling with Turkey. The European Union's top diplomat in Ankara has stepped down after a row with Turkey over controversial comments <a href="http://www.businessinsider.com/afp-eu-envoy-to-turkey-resigns-after-row-with-ankara-official-2016-6">he made on a landmark refugee deal, a spokesperson from his office said on Tuesday.</a>Morgan Stanley aims to win where others are stalling. Morgan Stanley is targeting quarterly revenue of around $1 billion for its fixed income, currencies and commodities trading unit, <a href="http://www.businessinsider.com/r-morgan-stanleys-gorman-says-bank-targeting-1-billion-in-ficc-trading-per-quarter-2016-6">Chief Executive James Gorman said.</a>The ECB is gearing up for a Brexit intervention. The European Central Bank would publicly pledge to backstop financial markets in tandem with the Bank of England should Britain vote to leave the European Union, <a href="http://www.businessinsider.com/r-exclusive-ecb-would-pledge-to-backstop-markets-after-a-brexit-sources-2016-6">officials with knowledge of the matter told Reuters.</a>Protests continued in France. Several hundred masked protesters hurled objects at police Tuesday during a demonstration in Paris against a contested reform of French labour laws, <a href="http://www.businessinsider.com/afp-several-hundred-masked-protesters-hurl-objects-in-paris-demo-2016-6">authorities said.</a>A US fund shut its doors. Platinum Partners, the hedge fund firm linked to a New York City corruption scandal, is returning a majority of its assets to clients,<a href="http://www.businessinsider.com/r-platinum-partners-to-shut-main-hedge-fund-following-arrest-of-associate-2016-6"> a person familiar with the situation told Reuters.</a>There's change at Deutsche Bank's Asian headquarters. Deutsche Bank's Asia Pacific Chief Executive Officer Gunit Chadha has decided to step down <a href="http://www.businessinsider.com/r-deutsche-bank-asia-chief-executive-chadha-leaving-bank-memo-2016-6">from his role at the German lender, with effect from July 17, according to an internal memo seen by Reuters.</a>1MDB is being sued for billions. Abu Dhabi's state-owned International Petroleum Investment Co (IPIC) said on Tuesday it has asked a London court to arbitrate in a dispute with Malaysian state fund 1MDB<a href="http://www.businessinsider.com/r-uaes-ipic-takes-malaysia-fund-dispute-to-london-court-seeks-65-billion-2016-6"> in which IPIC is claiming about $6.5 billion.</a>The EU won't stop a US hotel merger. EU antitrust authorities are set to wave through US hotel chain Marriott International's cash and share purchase of <a href="http://www.businessinsider.com/r-exclusive-eu-set-to-clear-unconditionally-marriott-starwood-deal---source-2016-6">Starwood Hotels and Resorts Worldwide Inc without demanding concessions, a person familiar with the matter said on Tuesday.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/hugh-hefner-son-cooper-playboy-mansion-sale-2016-6">Hugh Hefner's son reacts to the sale of the Playboy Mansion</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="A3aWwwNDE6JhQ99gtsV_5KWDFsTjBJld" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things you need to know before European markets open

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Julia La RocheA competitors takes part in the bench press challenge in the Decathlon, an event which decides "Wall Street's Best Athlete."</div></div></div>Finance Insider is Business Insider's summary of the top stories of the past 24 hours.To sign up, scroll to the bottom of this page and click "Get updates in your inbox," or <a href="http://www.businessinsider.com/newsletter/wall-street-career-advice" target="_blank">click here.</a>The American corporation has been transformed by globalization and new technology.But equally powerful is the belief on Wall Street and in boardrooms that the sole responsibility of a corporation is to maximize profits for shareholders.As part of our ongoing series "The Price of Profits," we took a look at IBM, a company that for years refused to lay off workers, and <a href="http://www.businessinsider.com/ibm-corporate-america-history-2016-6">then had to rethink its corporate strategy</a>.Monday evening marked the most important moment so far in the run-up to the <a href="http://www.businessinsider.com/leave-leads-eu-referendum-polls-the-sun-2016-6">June 23 referendum on whether Britain will leave the European Union</a>, with new polling showing a lead for the "Leave" campaign and the widely read newspaper The Sun endorsing that campaign. The probability of a so-called Brexit - <a href="http://www.businessinsider.com/brexit-europe-risk-2016-6">an event that "</a><a href="http://www.businessinsider.com/brexit-europe-risk-2016-6">would open Pandora's box" in Europe</a> - is the largest it has ever been.Brevan Howard, one of the world's biggest hedge funds, is said to be preparing itself <a href="http://www.businessinsider.com/brevan-howard-said-to-plan-for-potential-withdrawals-2016-6">in case more investors withdraw funds</a>.A rule has been broken on Wall Street, <a href="http://www.businessinsider.com/investment-banks-could-struggle-to-retain-talent-2016-6">and 'any banker with a brain' is now looking for an exit</a>.Investors are sending a strong signal <a href="http://www.businessinsider.com/shareholder-reaction-to-acquisitions-goldman-sachs-research-2016-6">that they're tired of takeovers</a>. 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Gunit Chadha quits Deutsche Bank Asia after 13 years, cites no reason

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