Deutsche Bank has reportedly appointed James Whittaker as the CEO of its UK wealth management business as it looks to further tap into the country’s ultra-high-net-worth segment.
Whittaker, who previously worked with UBS as its head of UK coverage, will lead DB UK Bank in the coming months, Bloomberg reported, citing an internal memo sent to employees.
He will replace Michael Morley, who has led the German lender’s UK business since 2017.
The new appointment comes as Deutsche Bank strengthens its focus on serving the ultra-rich.
It also hired Adam Russ from Goldman Sachs to co-head lending to the UHNW in Europe, Africa and the Middle East.
According to the memo, Russ will join the board of DB UK Bank along with the unit’s COO Paul Chapman.
Recent appointments at Deutsche Bank
In November last year, Business Times reported that Deutsche Bank’s wealth management arm made three strategic appointments to its South-east Asia team.
The bank named Edmund Tee as vice-president, Felicia Tan as director and team leader, and Dita Darmawan as director at the unit.
The same month, Deutsche has hired a team of private bankers from rival HSBC, including Paul Sayers as head of its international private bank in Africa.
In August last year, the lender named Dominique Jooris as the head of its wealth solutions unit for the Asia-Pacific region.