Deutsche Bank has announced the first details in covering UHNW clients in its private bank in Germany.

As part of the reorganisation of the private bank, Deutsche has combined wealth management and private banking under the leadership of Lars Stoy in October 2023.

In addition, Stefanie Rühl-Hoffmann has been given responsibility for the UHNW business.

Furthermore, Deutsche will serve its UHNW clients in Germany regionally and allow them access to the bank’s full range of service.

Michael Kremzow will lead the relationship manager team in the North and West regions of Germany. Stefanie Rühl-Hoffmann will temporarily head the South-East region. In addition to his responsibilities as regional head of investment managers North and West, Björn Gebhardt will head the UHNW investment manager team throughout Germany.

Additionally, a team under Germany-wide management will coordinate the entire client service for the UHNW target group.

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“I am delighted that we will be able to serve our clients even more effectively according to their needs with a very experienced team,” stated Stoy, head of Private Bank Germany and responsible for Wealth Management & Private Banking. “This enables us to support the entire breadth of the private client business in our home market with needs-oriented offerings. We are the market leader in Wealth Management in Germany. Our ‘Global Hausbank’ concept combines regional presence with the advantages of a globally operating Corporate Bank and Investment Banking.”

“In recent years, we have had very positive experiences worldwide with this service model, which we will apply even more consistently to the special needs of UHNW clients in our new team,” said Rühl-Hoffmann, head of UHNW in Wealth Management & Private Banking Germany. “Depending on the client’s individual situation, our local teams can access all the bank’s specialists worldwide, for example, when granting loans. This benefits both clients and the various divisions of Deutsche Bank.”

In October 2023, Deutsche Bank announced the completion of its purchase of Numis Corporation.

Collectively, they will be known as “Deutsche Numis,” a force in UK investment banking and a trusted advisor for UK listed businesses, highlighting the unity and reputations of both companies in the UK and abroad.