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Time of India
4 days ago
- Business
- Time of India
Deutsche Bank elevates Stefan Schaffer as CEO of its India GCC
Germany-headquartered Deutsche Bank has appointed Stefan Schaffer as the new chief executive officer of Deutsche India, its global capability centre (GCC), the bank said in a statement. Schaffer will also be the global chief information officer (CIO) for corporate functions and the head of global technology centres for Deutsche Bank. He takes over from Dilipkumar Khandelwal , who had resigned from the position last month to enter the startup ecosystem. Since January 2023, Schaffer has served as the managing director and head of shared applications and services. 'His initiatives focused on reuse strategies and the development of shared capabilities aligned with the bank's engineering and architecture manifesto—driving simplification and standardisation across the enterprise,' the statement said. Schaffer has spent over five years at the German bank in several senior leadership roles, starting in 2020 as the managing director for central CIO private banking and the head of tech centre in Romania's capital Bucharest. 'With a distinguished global career spanning enterprise technology, start-up innovation, and management consulting, Stefan brings a wealth of experience and a deep understanding of diverse business cultures and complex operational environments,' the statement said adding that the appointment reflects Deutsche Bank's 'ongoing focus on innovation, operational excellence, and underscores the Bank's commitment to India'. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories India has more than 1,760 GCCs employing around 1.9 million, with an average of one to two GCCs being added every week, as per industry body Nasscom's estimates. This is expected to reach 2,200 employing around 2.5-2.8 million by 2029. Multinationals have been promoting their internal talent to boost more leadership roles at their GCCs in India as a government push is focusing on making it easier to operate such centres here. Last week, ET reported that the ministry of electronics and IT has formed an industry-led panel to help boost the growth of GCCs in India by seeking to create the necessary national framework announced in the federal budget. Collectively, GCCs have a revenue base that is already close to a fourth of India's traditional $280-billion-plus technology services outsourcing industry at $64.6 billion. That figure is projected to touch $100 billion by 2030.
Time of India
22-05-2025
- Business
- Time of India
Khandelwal steps down as Deutsche India CEO, to focus on startups
File photo: Dilipkumar Khandelwal BENGALURU: After a five-year stint, Dilipkumar Khandelwal stepped down as CEO of Deutsche India, head of global technology centres, and MD & global CIO of corporate functions in Deutsche Bank. Sources told TOI that he is beginning a new innings in the startup space. As CEO, his role was focused on optimising multiple, integrated functions that deliver solutions to the global organisation. Prior to this, he was the former managing director of SAP Labs India. He oversaw tech centres across Bengaluru, Pune, Bucharest, Berlin, and Cary. Deutsche India has 23,000 employees, with over 8,000 in the India tech centres, making up 25% of the global workforce. When TOI reached out to the firm, its spokesperson said, 'This decision follows months of careful planning, and we are deeply grateful for his (Khandelwal's) invaluable contributions to the company's journey. We are well-positioned for the next chapter of growth. The bank has a transition plan in place, and Dilip will remain with the bank until the end of June to oversee the transition. Under Dilip's guidance, we've built a foundation of technology and a culture of growth and innovation.' The India technology centre—the technology unit of Deutsche India—has emerged as a pivotal hub for technology-driven transformation across the bank's global operations. The centre focuses on leveraging cloud, AI, and GenAI to develop services across all key functions: risk, finance, operations, and technology. Khandelwal is also the founder of Plaksha University. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
21-05-2025
- Business
- Time of India
Dilipkumar Khandelwal resigns as Deutsche India CEO, to focus on startups
Deutsche India CEO Dilipkumar Khandelwal, who is also the head of global technology centres and MD & Global CIO of Corporate Functions at the German financial services multinational has decided to step down after a span of over five years to pursue his interest in startups . 'This decision follows months of careful planning, and we are deeply grateful for his invaluable contributions to the company's journey. We are well-positioned for the next chapter of growth,' Deutsche India said in response to an ET query, confirming his decision. 'The bank has a transition plan in place and Dilip will remain with the bank until the end of June and oversee the transition. Under Dilip's guidance, we've built a foundation of technology and a culture of growth and innovation,' the company added. Khandelwal, who is based in Bengaluru, told ET: "It is time to explore what are the next steps, and I haven't made any decision yet. It is an exciting time in the startup ecosystem, and I like to focus my energies on nurturing and, more importantly, helping startups scale. I would continue to invest in early-stage startups and work with them to help scale it.' He did not disclose specifics of his plans. Prior to Deutsche Bank, he was the president of the SAP HANA Enterprise Cloud business and managing director for SAP India. He has also been an advisory board member at the Indian Institute of Information Technology, Hyderabad. Khandelwal is also the founder of the Punjab-based Plaksha University, which is focused on technology education. He has been a limited partner in Stellaris and Fireside Ventures and has invested in more than 70 early-stage technology companies, including Whatfix, Moglix, Cryogenics, Zouk, Rozana, and Newme. A graduate of Engineering from Mumbai University, he holds a Management degree from the Indian School of Business. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories
