Deutsche Bank is reportedly planning to increase the number of its asset and wealth management staff in Asia by 5% to 10% in 2015.
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The move comes as a part of the bank’s revamped strategy to bolster growth focusing especially on China, India and Indonesia which will also include plans to invest more than EUR1.5bn ($1.6bn) in the transaction banking, asset and wealth-management businesses, reported Bloomberg.
Deutsche Asset & Wealth Management Asia-Pacific head Ravi Raju said in an interview to the publication: "We might do some bold moves to take Asia into the next growth phase."
Raju said that the lender will hire relationship managers and compliance and technology staff adding to its resources of over 800 employees in the region.
The firm will target clients in Asia with assets of between $5m and $20m when a digital banking platform is ready, he said.
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