Deutsche Bank is planning to launch a private client business in India, according to reports in the country’s media. The German bank has app...

Deutsche Bank is planning to launch a private client business in India, according to reports in the country’s media. The German bank has appointed Frank Strauss to head up the new venture. No other details were provided. Deutsche’s move comes at a time when competition for India’s wealthy is intensifying. Just this week SG Private Bank in India was reported to have poached a team of private bankers from ABN Amro. BNP Paribas, HSBC, UBS, Credit Suisse and the local banks are all gearing up for an expected boom in India’s wealth management market in the coming years as deregulation allows greater foreign competition.