Deutsche Bank Private Wealth Management has bolstered its Glasgow office with the appointment of Patrick Caves as director and lending relationship manager.

Caves previously worked for Allied Irish Bank, most recently as corporate business development manager and before that as head of private banking for Scotland. Before this he was a private banking partner at Clydesdale Bank for eight years.

In his new role Caves reports to Paul Frame, managing director and head of Deutsche’s private client business in Glasgow.

Scotland’s second city is clearly a development priority for Deutsche as back in March the firm made five appointments to its Glasgow private banking office. The five were relationship managers Stephen Lawler, Kimberley Nelson and Alison Fitzsimons, along with investment director Scott Ballantyne and client assistant Jan Coutts.

In other more recent developments, last week it emerged that Deutsche’s exclusive negotiations with Guggenheim Partners over a potential sale of RREEF, the German bank’s alternative asset management business, had ended after both parties failed to agree on sale terms.

At the same time the Frankfurt-listed Deutsche Bank said that the strategic review of its global asset management division, started last November, had concluded and that it will issue a further update on its asset and wealth management division in September. The review covered all of the asset management division globally except for the DWS franchise in Germany, Europe and Asia, which the bank had already determined was a core part of its retail offering in those markets.