Deutsche Bank is planning to increase its number of relationship managers in its emerging markets private banking division, reported Reuters.  

The German-based bank is preparing to add up to 50 more staff this year and aimed at strengthening its activities in the Gulf region and North Asia. 

Deutsche Bank Private Bank emerging markets unit lead Marco Pagliara said in comments to Reuters that additional hiring would continue into 2027 and 2028, though no specific regional figures were provided. 

This recruitment drive forms part of a strategy to raise headcount in the division by 50% over the next three years, the news agency added 

Many of the planned 250 new hires, previously announced by the bank, are expected to join this segment. 

Pagliara said: “This diversification not only reflects (ultra-high-net-worth) family aspirations for global assets like real estate, it also reflects the clients’ desire to diversify assets geographically to mitigate geopolitical risk.” 

The bank also plans to focus further on Lombard lending, a service offering clients loans secured against their investment holdings, as interest in this product increases. 

In a separate interview, Deutsche Bank Private Bank wealth management and business lending global head Adam Russ commented:  “Right now, I’m seeing more clients using the dry powder they’ve got.  

It’s not a case of clients aggressively leveraging, but they are just taking leverage up a tick. 

“There’s a lot of pent-up supply that can be used if people feel real conviction around certain trades, which is good, you know, being in a market like we’re in right now,” said Russ. 

“Lombard lending is becoming more and more of a focus for us.”  

Deutsche Bank posted a net profit of €7.1bn ($8.5bn), nearly double its earnings recorded in the previous year.

Group revenues rose by 7% to €32.1bn, meeting the institution’s annual target. The results reflect higher income alongside reduced costs across Deutsche Bank’s main business areas.