The Asia-Pacific wealth-management division of Deutsche Bank intends to improve its revenue by 20% next year by luring the region’s ultra-high net worth individuals (UHNWIs).
The unit will focus on Singaporeans, Hong Kongers, Indonesians, Chinese and non-resident Indians, said Mark Smallwood, Deutsche Asset & Wealth Management’s head of franchise development and strategic initiatives in the region.
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The lender’s Asia Pacific wealth management unit will lure money from existing customers, focusing on individuals having a minimum of $100m of potential investable assets, as well as look for new clients.
The bank’s Asia-Pacific asset and wealth-management division currently has almost $97bn under management.
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