4 days ago
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'.
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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.
