Banking News

Deutsche targets ultra-wealth in Asia, Middle East

Deutsche targets ultra-wealth in Asia, Middle East

(16 June 2017 – Asia) Deutsche Bank’s wealth management unit is hiring 100 client managers around the world in a bid to target the ultra-wealthy, particularly in Asia and the Middle East.

In an interview with the Financial Times, Fabrizio Campelli, global head of wealth management at the company said new managers at the wealth management arm of Deutsche Bank will focus on wealthy people and families predominantly in Asia-Pacific.

The EMEA strategy will also centre around the super-rich in the UK and Middle East as well as entrepreneurs and wealthy individuals in the US.

“In each region we will have a more nuanced approach to the market,” Campelli told the publication.

Campelli also revealed that the unit will invest a further €65 million (A$95 million) in “digital capabilities”, such as portfolio health checks and customised market news, that would reflect “new demographics in the business”.

Deutsche Bank split its asset management and wealth management divisions in 2015, spinning off Deutsche Bank Wealth Management as a standalone part of its private and business clients arm.

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