Deutsche Bank has recommitted itself to South Africa’s high finance market, an area which has proved difficult for foreign players to wrestle market share away from the domestic champions, tapping Danelee Masia as its next chief country officer in Africa’s largest economy.Masia, who will also assume the role of general manager of Deutsche Bank’s Johannesburg branch, replaced Saloshni Pillay, who has jumped ship to lead Absa’s investment bank as it speeds up its corporate and investment banking march.Deutsche Bank said in a statement Masia will have overall responsibility for leading the franchise and overseeing its activities across corporate banking, investment banking and research.“Danelee brings more than a decade of experience at Deutsche Bank, having joined in Johannesburg in 2010. She has built a distinguished career as one of the bank’s senior economists, covering South Africa and broader Sub-Saharan African markets, and will continue to lead and co-ordinate the Ceemea [Central and Eastern Europe, the Middle East and Africa] Economics team while maintaining her regional coverage,” the lender said.“Danelee is widely recognised for her strong market insight, deep analytical expertise, and well-established external profile, regularly representing the bank across a range of industry and policy forums.”South Africa’s corporate banking is dominated by domestic players, chief among them Standard Bank, whose corporate and investment banking franchise is powered by an asset book of R1.5-trillion — miles ahead of its nearest rival.Absa, Rand Merchant Bank, Nedbank and Investec are also significant players in high finance circles. It is Absa that has upped the ante, recruiting some of the best talent available as it looks to grow its value proposition to clients across Pan-Africa.Investec and Nedbank have also indicated their intention to compete aggressively for market share gains. Standard Bank is not resting on its laurels, having outlined plans to rake in about R100bn in revenue from its corporate and investment banking franchise, which already accounts for nearly half of the group’s profit.Deutsche Bank has also appointed Neeran Govender to head of institutional client group coverage and global emerging markets sales for South Africa.In a further senior appointment, Stephen Nyakudarika will lead investment banking and capital markets, “supporting the continued development and execution of the bank’s financing and capital markets activities” in South Africa.Deutsche Bank has stressed its enduring commitment to South Africa.“Deutsche Bank has maintained a presence in South Africa for more than 47 years and remains firmly committed to the market, supporting clients with integrated solutions across corporate banking, investment banking, and research, underpinned by strong governance and long-standing regulatory engagement.”Some international players have found the going tough in their bid to gain scale and market share in South Africa’s corporate investment and banking scene, which extends to broader Africa.French multinational BNP Paribas in 2024 wound down its corporate and investment banking services in South Africa, ending its 12-year presence in the country.The Reserve Bank granted BNP, the eurozone’s biggest bank, permission in 2012 to set up a branch in South Africa.British multinational bank HSBC last year became the latest offshore banking giant to exit South Africa, selling its assets to FirstRand and Absa.Business Day