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Deutsche Bank Hires Team of Ex-HSBC Private Bankers for Africa

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Photographer: Daniel Roland/AFP/Getty Images

Deutsche Bank AG is hiring HSBC Holdings Plc banker Paul Sayers as the head of its international private bank in Africa, as the German lender seeks to build up its wealth-management business.

Sayers, based in Zurich and focusing on wealthy clients in African countries, will begin at Deutsche Bank’s wealth management business in the Swiss city on Dec. 1, according to a memo to staff seen by Bloomberg and confirmed by a spokesperson. The announcement was from Marco Pagliara, Deutsche Bank’s wealth head for Europe, and Loic Voide, the head for the private bank in the Middle East and Africa.