Deutsche Bank is reorganising its business for ultra-high net worth clients by moving Deutsche Oppenheim Family Office and other specialist teams into the division, bringing related advisory work for complex wealth matters into one structure.
Philipp Wehle will head the enlarged Strategic UHNW Clients unit.
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He is now a partner at a Swiss private bank, with primary responsibility for international operations, and is due to join Deutsche Bank by 1 September 2026 at the latest.
Wehle has held senior posts in wealth management over several decades.
These include serving as CEO of International Wealth Management at Credit Suisse, where he was involved in the strategic direction of the business with an emphasis on client access and integrated client services.
His previous work also included a focus on strategic UHNW clients and on building cooperation across divisions for this client group.
He will be based in Frankfurt.
Stefanie Rühl-Hoffmann will take on the role of vice chairwoman wealth management Germany.
She has led the build-out of the UHNW business in Germany and will now concentrate on key client and business relationships.
She will continue to report to Gasser.
The enlarged division will serve UHNW clients whose wealth is generally linked to entrepreneurial assets and backed by family offices.
Deutsche Bank said all advisers and specialists working with ultra-high net worth clients will be placed under a single management set-up.
Alongside client advisers, this will cover specialists in wealth structuring and investments, as well as Deutsche Oppenheim Family Office.
The bank said its Investment Bank and Corporate Bank will work with the unit to provide coverage for wealth management clients across both personal assets and company-related matters.
Deutsche Bank Germany wealth management head Raffael Gasser said: “By expanding and more closely integrating our team of specialists and advisors, we are addressing the specific advisory needs of ultra-high net worth, institutionally active clients. This allows us to align our Wealth Management business even more consistently with the specific needs of different client groups.”
Last month, Deutsche Bank said Marie-Jeanne Deverdun and Stefan Hoops will join its management board from 1 May.
