Deutsche Bank AG is stepping up hiring for its Asian wealth-management business as part of a “multi-year” expansion to bolster a unit that has lost key executives and assets in recent years.
Bank of Singapore, which recently broke into the ranks of Asia’s top 10 private banks, intends to keep hiring more relationship managers and focus on serving a wealthier bracket of customers to keep expanding its assets under management.
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 acquisition of ABN Amro’s private banking units in Singapore and Hong Kong by Liechtenstein’s LGT seems to have gone through without much pain. For some senior ABN Amro bankers though it has meant no gain.
The fund house has poached Bin Han from Credit Suisse amid a raft of recent hires to its institutional and wholesale teams across Hong Kong and Singapore.
Lombard Odier, the Switzerland-headquartered private bank and investments house, has announced that its Asia head, Vincent Duhamel, is stepping down as chief executive in the region, taking up the post of Asia chairman. He had been the bank’s Asia head for six years.
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