The Frankfurt-listed lender is bulking up its wealth management operations in Asia, with the creation of a team focused on mainland China clients.
Deutsche Bank Wealth Management has announced a range of new hires to support growth in the Asia region, including four members of a new group in Hong Kong who will cover clients in Greater China.
The team, led by Gloria Sun and reporting to Kanas Chan, head of wealth management coverage, North Asia, will be responsible for acquiring new clients and raising assets in Greater China. The four executives in the team joined Deutsche Bank WM from The Bank of East Asia Limited Hong Kong: Gloria Sun – managing director, group head; Winson Hung, director, investment advisor; Gary Lu – vice president, relationship manager, Nora Lai, assistant vice president, relationship manager.
The German bank also announced nine new hires in Hong Kong, Singapore and Dubai who are responsible for client coverage, project management, IT and Know-Your-Client activities.
“Wealth Management is one of the core elements of Deutsche Bank’s growth strategy. Here in Asia, we had a great first quarter with strong client demand and double digit revenue growth. We are now fully focused on business growth and hiring in the region," Lok Yim, head of Deutsche Bank WM, Asia-Pacific, said.
“We aim to grow our business, to enhance our client experience and to protect our clients’ interests. We are looking for the very best talents in the wealth management industry to join us as the winning team in our exciting growth journey,” Yim added.
At the end of March Deutsche's wealth arm had a total of €304 billion ($341 billion).