Deutsche Bank exec eyes ICBC gig

HONG KONG - One of Deutsche Bank AG's top executives in Asia is in discussions about joining Industrial & Commercial Bank of China Ltd (ICBC), the world's largest lender by market value, said people with knowledge of the matter.

Lee Zhang, Deutsche Bank's head of global banking for Asia-Pacific outside Japan, is still with the company and it wasn't clear what position he would have at Beijing-based ICBC, said the people, speaking on condition of anonymity because the talks are private. Zhang, 45, didn't respond to phone calls and text messages seeking comment.

If he makes the move, Zhang would be the most senior investment banker at a Western firm to join a Chinese State-owned lender. A move might entail a pay cut: ICBC Chairman Jiang Jianqing was paid 1.61 million yuan ($236,000) in 2008, about 12 percent of Deutsche Bank Chief Executive Officer Josef Ackermann's salary that year.