Deutsche Bank has appointed Gunnar Hoest as managing director and head of commodities, Asia, effective late June. He will oversee the expansion of Deutsche Bank's commodities business in Asia, which provides options-based commodity products and emissions and iron ore swaps.

Mr Hoest joins from Credit Suisse, where he was head of Asia commodities. He will be based in Singapore and report regionally to David Lynne, head of global rates Asia and globally to David Silbert, global head of commodities.

Mr Hoest began his career as a derivatives trader at Credit Suisse in New York before moving to London to trade emerging market credit derivatives. He moved to Hong Kong as head of emerging market credit derivatives and exotic trading before taking responsibility for building the Asian commodities business at Credit Suisse in 2006.

Deutsche Bank’s current head of commodities in Asia, Simon Grenfell, will relocate to London as global head of metals sales and origination and report to Louise Kitchen, global head of commodities structuring and sales.

Mr Lynne said: “Gunnar’s experience in building a successful Asian commodities business makes him an ideal candidate to drive the continued development of our regional platform.

“We continue to invest significant resources in our Asian commodities business, reflecting growing demand for the full range of commodity-linked financing, investment and risk management products in the region.”