As part of the changes, Philipp Wehle is joining Deutsche Bank to head the expanded unit and Stefanie Rühl-Hoffmann will become vice chairwoman Wealth Management Germany.

Deutsche Bank is expanding its unit serving ultra-high net worth (UHNW) clients by transferring Deutsche Oppenheim Family Office AG and other specialists into this area. This change will involve client advisors, investment experts and other specialists as well as Deutsche Oppenheim Family Office AG being brought together in a new unit; Philipp Wehle is joining Deutsche Bank to head the expanded unit; and Stefanie Rühl-Hoffmann will become vice chairwoman Wealth Management Germany.

Wehle will assume responsibility for the expanded Strategic UHNW Clients unit. He is currently a partner at a Swiss private bank, where he is primarily responsible for the international business. He will join Deutsche Bank no later than 1 September 2026, based in Frankfurt. “We are delighted that we have been able to attract Philipp Wehle, an outstanding leader with many years of experience in wealth management and a deep understanding of the needs of ultra-high net worth clients,” said Raffael Gasser, head of Wealth Management and Private Banking Germany, Deutsche Bank said.

Wehle has decades of experience in leadership roles in wealth management and has held positions including CEO of international wealth management at Credit Suisse, where he shaped the business’ strategic development with a strong focus on client proximity and integrated client solutions. He placed particular emphasis on strategic UHNW clients and the successful development of cross-divisional collaboration for these clients. 

Stefanie Rühl-Hoffmann, who “very successfully” built up the UHNW business in Germany, will become vice chairwoman Wealth Management Germany, focusing on developing strategically important client and business relationships. She will continue to report to Gasser. “I would like to thank Stefanie Rühl-Hoffmann for the outstanding work she has done in building this very important unit. Her strategic expertise in advising highly complex wealth structures, combined with her proven strength and deep knowledge of global financial markets, will continue to play a key role in further strengthening and expanding our strong position in our home market,” Gasser said.

“By expanding and more closely integrating our team of specialists and advisors, we are addressing the specific advisory needs of ultra-high net worth, institutionally active clients. This allows us to align our Wealth Management business even more consistently with the specific needs of different client groups,” Gasser added.

The expanded unit will cater to UHNW clients whose assets are usually entrepreneurial in nature and supported by family offices. In future, all advisors and specialists serving ultra-high net worth clients will be consolidated under a single management structure. In addition to client advisors, this will include, for example, experts in wealth structuring and investment specialists, as well as Deutsche Oppenheim Family Office AG. Collaboration with Deutsche Bank’s Investment Bank and Corporate Bank will ensure coverage of wealth management clients with regard to both their private assets and their corresponding companies.