Ben Pace, Deutsche Bank AG’s chief investment officer for wealth management in the Americas, has stepped down from his current role.
Although the bank has not announced the transition, sources familiar with the matter say that Pace is leaving with a group of portfolio consultants.
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Pace, a frequent commentator on business television, worked at the Frankfurt-based company for about two decades.
Deutsche Bank has been seeking to add business from rich clients to compete with larger managers such as UBS AG and Credit Suisse Group AG of Switzerland.
Co-Chief Executive Officer Anshu Jain promoted Michele Faissola to run wealth and asset management in 2012 owing to stricter capital requirements.
The bank last year hired Felipe Godard from Credit Suisse to increase business from Latin American clients and Caroline Kitidis from Goldman Sachs Group Inc. to advise ultra-wealthy customers in the Americas. Raphael Zagury joined from Bank of America Corp. and Antonio Braun came from JPMorgan Chase & Co. to focus on the Mexico market for Deutsche Bank.
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