Michael Strasser is to join Deutsche Bank Private Wealth Management as director, global south Asia - Zurich. He will report to Salman Mahdi, head of private wealth management, global south Asia.

Strasser joins from Credit Suisse's private banking head office in Zurich, where he was head of special coverage, UHNW clients. Before that, he was chief executive of Credit Suisse Consulting in Mumbai for three years. Previously, he held senior positions at Standard Chartered Bank and Aviva in Singapore.

Mahdi said “Zurich is a key global centre for management of global south Asian wealth, and Michael's appointment allows us to expand our coverage and enhance our offering from Switzerland, where, so far, we have largely been Geneva-centric.”

The south Asian diaspora - clients of Indian sub-continental origin - remains a key focus for Deutsche, the bank said. The community is serviced globally from London, Geneva, Zurich, Dubai, Singapore and Hong Kong, through a growing team of over 60 professionals. Estimates vary, but the diaspora is credited with as much as $400 billion in output and some $50 billion annually in capital remittances back to south Asia.