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November 25, 2021

Deutsche Bank to strengthen wealth management biz with new appointments

By Verdict Staff

Deutsche Bank has hired a team of private bankers from rival HSBC as it seeks to grow its wealth management business.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The German lender has appointed Paul Sayers as the head of its international private bank in Africa, Bloomberg reported citing a memo sent by the bank to its staff.

The appointments, confirmed by a Deutsche spokesperson, were announced by Deutsche Bank Europe wealth head Marco Pagliara and its Middle East and Africa private bank chief Loic Voide.

In addition to Sayers, the German bank has also hired Daniel Crafford, Kevin Boux, and David Dizerens from UBS.

The new appointments come as Deutsche looks to scale up its private banking business in the Middle East and Africa region.

The bank plans to take advantage of its existing businesses in these regions in order to support the expansion of its wealth business.

Deutsche set up international private bank division last year, after merging its wealth management and international retail operations.

In July this year, the bank hired five senior wealth managers from Swiss rival UBS.

This team was appointed by the bank to the UHNW individuals and the family offices that manage their wealth, with focus on British and Northern European customers.

Other developments

Deutsche posted the fifth consecutive quarter of profit in Q3 2021, despite a slide in revenues at its investment banking unit.

The German lender registered a net income of €194m ($225m) for the three months to September, up 7% from €182 in the year-ago period.

In September, the bank executed its first-ever green repo transaction, joining the accelerating ESG efforts amongst the financial institutions globally.

As part of the green repo, it transferred securities to its existing client M&G Investments and received cash in return to fund its green asset pool.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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