Deutsche Bank Looking to Grow Asia Wealth Unit With New Hires
- Plans to add 25 new relationship managers each year in region
- Seeking to serve clients with $5 million-$20 million of assets
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Deutsche Bank AG is looking to grow its wealth management business in the Asia-Pacific region, hiring staff as it tries to attract a new category of clients with assets of less than $20 million.
The Frankfurt-based bank will add 25 relationship managers annually in Hong Kong and Singapore over the next five years, said Ravi Raju, Asia-Pacific head of wealth management, in a phone interview. The resulting additional 125 staff would boost total Asia-Pacific relationship manager headcount by more than 50 percent from the approximately 200 staff it had at the end of 2015.