Deutsche Bank Loses Team Managing $3 Billion to Startup

David J. La Placa, a wealth manager in Deutsche Bank AG’s San Francisco office, resigned on Friday with three colleagues to start Intellectus Partners, a boutique firm catering to entrepreneurs in Silicon Valley and elsewhere.

Their new firm started today with La Placa, 46, as chief executive officer and co-founder Jay Casey, as president, La Placa said in an interview. Kelly Morton and Tina Chan left Deutsche Bank to become vice presidents. The group managed about $3 billion at Deutsche Bank, said La Placa.