Deutsche Bank has unveiled its new business
unit, Asset and Wealth Management (AWM), as it moves to further
integrate its business units.

The AWM unit is a combination of its existing
asset management and private wealth management divisions, in
accordance with Deutsche Bank’s ‘one-bank’ model, which relies on
driving collaboration between its different departments.

“We have an enduring commitment to our
universal banking model and will implement a team-based approach to
leadership going forward,” said Anshu Jain, co-chairman of the
management board and group executive committee.

 

Unit renovation

The new unit’s formation followed a Deutsche
Bank group executive committee (GEC) reshuffle earlier this
year.

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The former head of private wealth management,
Pierre de Weck, and the head of asset management Kevin Parker stood
down on 31 May 2012.

Jain will have responsibility for the new
division.