Retail News CRM

Tag: Deutsche Bank

  • Deutsche Bank Launches Crypto Custody Service for Paying Clients

    Deutsche Bank Launches Crypto Custody Service for Paying Clients

    Deutsche Bank launched its digital asset custody service for paying corporate and institutional clients on Wednesday, rolling out commercial safekeeping for bitcoin and ether in Europe. The service shifts the German lender from trial deployments to live fee-earning operations in cryptocurrency infrastructure.

    Custody for Bitcoin and Ether

    The platform provides storage and safekeeping for major digital assets, focusing on corporate treasuries, asset managers, and institutional investors. Deutsche Bank runs the service under European regulatory oversight following preparations announced in September.

    Alongside the rollout, the bank signed a memorandum of understanding with Deutsche Asset Management, its majority-owned asset manager formerly known as DWS. The two units will build shared commercial and technical products across digital custody, fund tokenisation, and asset settlement.

    “In the medium term we aim to deliver a fully integrated, regulated ecosystem that supports the custody, tokenisation, and settlement of digital assets,” said Paul Maley, global head of trust and securities services at Deutsche Bank.

    The Path Into Asian Hubs

    Deutsche Bank confirmed plans to introduce the custody service to Asia, where institutional demand for licensed digital asset intermediaries has concentrated. Both jurisdictions enforce formal licensing regimes for digital token custody and exchange services.

    Regional banks in Asia already hold early positions.

    For institutional allocators and corporate treasuries in Asia, bank-grade custody eliminates counterparty risks associated with retail-focused crypto exchanges. Custody fees and balance-sheet ring-fencing will dictate whether European balance sheets win corporate mandates against established regional lenders.

    Execution and Capital Realities

    Custody operations carry operational risks that retail banks usually avoid. Private key management, offline cold-storage redundancy, and insurance liabilities create overhead costs that require significant volume to break even.

    European lenders faced strict capital treatment for unbacked crypto assets under international banking standards, pushing institutional institutions to focus on custody rather than direct balance-sheet trading. The partnership with Deutsche Asset Management provides an immediate captive user base, funneling institutional fund flows directly into the custody infrastructure.

    The Steps Leading to Launch

    Deutsche Bank applied for a digital asset custody licence earlier in its development cycle to support institutional holdings. In September, the lender formalised its timeline for a European corporate rollout, citing regulatory clearances as the remaining hurdle before launch.

    The commercial rollout on Wednesday completes that European preparation. The bank must now secure local regulatory permissions in Asian financial centres before onboarding clients outside Europe.

  • 1MDB in Talks to Settle US$1.83 Billion Lawsuit with Deutsche Bank

    1MDB in Talks to Settle US$1.83 Billion Lawsuit with Deutsche Bank

    1Malaysia Development Berhad is negotiating a settlement with Deutsche Bank Malaysia Berhad over a US$1.83 billion lawsuit filed in Kuala Lumpur. Counsel for the fund confirmed the talks to the Federal Court.

    Legal counsel Datuk Lim Chee Wee disclosed the talks before a three-member Federal Court panel led by Chief Judge of Malaya Datuk Seri Hashim Hamzah. High Court Judicial Commissioner Rihada Rafie will hear the proposed agreement on October 26. Financial terms remain undisclosed.

    Details of the Multi-Billion Dollar Claim

    The state investment vehicle filed the suit on May 7, 2021, targeting seven defendants. It alleged breach of contract, negligence and criminal conspiracy linked to stolen company funds. The original filing named Deutsche Bank (Malaysia) Berhad, Coutts & Co, JP Morgan (Switzerland), Petrosaudi International, Petrosaudi Holdings (Cayman), Tarik Obaid and Patrick Mahony.

    Court filings alleged the defendants assisted in fraudulent transactions that caused heavy capital losses and damaged the fund’s reputation. 1MDB dropped JPMorgan and Coutts & Co from the lawsuit on November 13 last year, narrowing the scope of the case.

    Federal Court Weighs Evidence in White & Case Appeal

    Alongside the Deutsche Bank negotiations, the Federal Court panel addressed 1MDB’s application for leave to appeal a separate ruling involving London law firm White & Case LLP. Chief Judge of Sabah and Sarawak Datuk Seri Azizah Nawawi and Federal Court Judge Datuk Ravinthran N. Paramaguru completed the three-member bench.

    Counsel for White & Case, Datuk Dr Cyrus Das, objected to 1MDB submitting more than 3,000 pages of supplementary documents. Khoo Guan Huat, another counsel for 1MDB, stated that the records were raised during earlier case management. The apex court admitted the documents. It also directed the filing of affidavits and ordered immediate case management to fix a hearing date.

    Jurisdictional Rulings and Institutional Risk

    On August 20, the Court of Appeal overturned a High Court decision that allowed 1MDB’s fraud claim against White & Case to proceed locally. The appellate judges ruled that Malaysian courts lacked jurisdiction over the foreign firm. Filed in 2024, that suit sought US$1.83 billion plus US$33 million in consequential losses from White & Case and Mahony over allegations of assisting PetroSaudi during advisory mandates.

    Jurisdictional disputes have complicated Malaysia’s efforts to pursue international financial intermediaries and legal advisers abroad. For institutional banks and advisory firms in Southeast Asia, negotiated settlements provide legal finality while avoiding protracted discovery across multiple countries.

    Next Steps in the Recovery Proceedings

    Global investigations into billions of dollars siphoned from 1MDB previously spurred asset recovery actions across Malaysia, Singapore, Switzerland and the United States. Settlements with major banks have driven Malaysia’s broader recovery efforts in recent years.

    Judicial Commissioner Rihada Rafie will take up the proposed settlement terms between 1MDB and Deutsche Bank at the Kuala Lumpur High Court on October 26.

  • Deutsche Bank Pioneers as First European Institution to Secure Renminbi Clearing License

    Deutsche Bank Pioneers as First European Institution to Secure Renminbi Clearing License

    The city of Frankfurt has just received a significant boost as a financial hub. Deutsche Bank, a prominent financial institution based in Frankfurt, has successfully become the first European bank appointed to serve as a renminbi clearing bank by the People’s Bank of China. This news was confirmed through an official statement on Monday.

    The provision of clearing services in Frankfurt will offer financial establishments and firms a direct, fast channel for processing, clearing, and settling cross-border transactions involving the renminbi. This move is anticipated to reinforce the financial ties between Europe and China.

    Deutsche Bank’s Role as a Clearing Bank

    Alexander von zur Mühlen, CEO for Asia Pacific, Europe, Middle East & Africa and Germany at Deutsche Bank, weighed in on the matter. He believes that their new role as a renminbi clearing partner in Europe deepens Deutsche Bank’s position as a globally recognized clearing bank. This commitment also reaffirms the bank’s long-standing dedication to the internationalization of the renminbi. Mühlen is optimistic that this development will bolster the financial connectivity between China and Europe. This will help Deutsche Bank to better serve its clients’ cross-border trade and investment activities.

    Even though renminbi clearing services were accessible in Europe prior to this, they were only offered through branches of Chinese banks.

    Renminbi Hub: A Shift from Competition to Normalcy

    Over a decade ago, the concept of establishing a renminbi hub in Europe was a contentious issue that incited competition among Europe’s financial centers. In Switzerland, the establishment of a renminbi hub emerged as a crucial prestige project for the nation’s banking industry.

    China Construction Bank (CCB) earned a banking license from the Swiss Financial Market Supervisory Authority in October 2015. When CCB’s Zurich branch launched in January 2016, it was attended by several notable representatives from the Swiss financial center and public authorities. Since then, CCB has been in charge of renminbi clearing in Switzerland.

    As of January 2021, CCB had processed transactions totalling nearly 600 billion francs. A total of 13 Swiss partner banks were reported to be participating in the hub. Currently, Zurich represents a key center within the offshore renminbi ecosystem.

    It remains unclear if a Swiss bank will pursue clearing status, however, UBS and Zürcher Kantonalbank could potentially be the only viable candidates.

    Questions & Answers

    What is the significance of Deutsche Bank’s new role as a renminbi clearing bank?
    This development strengthens Deutsche Bank’s position as a globally recognized clearing bank. It will enhance financial connectivity between China and Europe.

    What is the history of renminbi clearing in Europe?
    Renminbi clearing services were available in Europe previously, but only through branches of Chinese banks.

    What is the status of the renminbi hub in Switzerland?
    Currently, Zurich represents a key center within the offshore renminbi ecosystem, with China Construction Bank handling renminbi clearing in Switzerland since 2016.

  • Deutsche Bank Boosts Thailand Operations with Ex-Julius Baer Exec Appointment

    Deutsche Bank Boosts Thailand Operations with Ex-Julius Baer Exec Appointment

    Deutsche Bank Private Bank has appointed a former executive from Julius Baer’s onshore Thailand joint venture to their private wealth team. Penluck Sriboonruang has taken the post of vice president on the Thailand team, now based in Singapore and reporting directly to Paul Handley, the Southeast Asia market head.

    Professional Experience

    Sriboonruang brings with her a vast amount of experience, having worked for over seven years in the field. Her previous roles include being a senior private banker at the Thailand joint venture SCB-Julius Baer, as well as a team leader at the Bangkok-based Siam Commercial Bank.

    A representative for Deutsche Bank Private Bank has confirmed the details of Sriboonruang’s appointment.

    Questions & Answers

    Who has Deutsche Bank Private Bank appointed to their private wealth unit?
    Deutsche Bank Private Bank has appointed Penluck Sriboonruang to their private wealth unit.

    What is Penluck Sriboonruang’s role in Deutsche Bank?
    Penluck Sriboonruang has been appointed as the vice president in the Thailand team at Deutsche Bank Private Bank.

    What is her professional background?
    Penluck Sriboonruang has over seven years of combined experience at Thailand joint venture SCB-Julius Baer, where she was a senior private banker, and Bangkok-based Siam Commercial Bank, where she was a team leader.

  • Deutsche Bank Appoints Hsbc Veteran Cora Chiu As Head Of Investment Management, North Asia

    Deutsche Bank Appoints Hsbc Veteran Cora Chiu As Head Of Investment Management, North Asia

    Deutsche Bank Private Bank has recently welcomed an experienced HSBC FX specialist to its team. Cora Chiu has been designated as the Head of Investment Management, North Asia, a development that came into effect on December 16 and is pending regulatory approval. Chiu’s role will be to lead investment sales operations for the North Asia region, while also managing local supervisory functions over FX advisory and wealth planning resources. She will be stationed in Hong Kong, reporting to both Gian-Maria Piccolo and Fred Fong locally.

    Chiu brings with her a wealth of experience, spanning nearly two decades in various sectors including FX and commodity advisory, multi-asset trading, and product strategy. Her most recent role was as the Head of FX & Commodities, North Asia at HSBC. Chiu has a rich history of working at esteemed organizations like Citi, where she was instrumental in shaping the regional FX strategy for ultra-high net worth clients and family offices. She also has experience working at UBS, where she contributed to their wealth management and FICC (fixed income, currencies and commodities) divisions.

    Chiu will be taking over from Cedric Ko, who has chosen to explore new opportunities outside the bank. A representative from the bank confirmed the details of the internal memo.

    Questions & Answers

    Who is Cora Chiu?
    Cora Chiu is an experienced professional with nearly 20 years of experience across various sectors such as FX and commodity advisory, multi-asset trading, and product strategy. She has worked for prominent financial institutions like HSBC, Citi, and UBS.

    What is Cora Chiu’s new role at Deutsche Bank Private Bank?
    Cora Chiu has been appointed as the Head of Investment Management, North Asia at Deutsche Bank Private Bank. Her responsibilities will include leading investment sales operations for the North Asia region, and supervising FX advisory and wealth planning resources.

    Who did Cora Chiu succeed at Deutsche Bank Private Bank?
    Cora Chiu succeeded Cedric Ko in the role of Head of Investment Management, North Asia. Ko has decided to pursue new opportunities outside of the bank.

  • Deutsche Bank Revamps Wealth Management Division for a Dynamic Future in Financial Services

    Deutsche Bank Revamps Wealth Management Division for a Dynamic Future in Financial Services

    Deutsche Bank’s Bold Move to Elevate Wealth Management

    Deutsche Bank is shaking up its wealth management operations in Germany with a strategic reorganization aimed at harnessing growth and capitalizing on lucrative markets. By merging its teams serving affluent and high-net-worth clients, the bank is setting the stage for increased revenue generation within its Wealth Management division.

    The latest restructuring initiative, announced on Monday, is designed to streamline leadership and navigate the complexities of wealth management across Germany. The approach mirrors the bank’s model for corporate clients, creating a regionally structured framework that targets specific client needs.

    As part of this overhaul, Deutsche Bank is enlisting fresh talent from competitors, including notable hires like Nasim Amini. Amini, who previously worked at HypoVereinsbank, will take charge of the Southern Region starting in January. He brings a wealth of experience from a career that includes 22 years at Commerzbank.

    Also joining the team is Naveed Arshad, who comes from private bank Hauck Aufhäuser Lampe. Arshad will focus on catering to wealth management clients seeking innovative digital solutions, tapping into the growing trend towards tech-driven financial services.

    Adding to this dynamic team, Lisa-Marie Wöhrle returns to Deutsche Bank from UBS to spearhead a new unit dedicated to advising wealthy families on retirement and inheritance planning. Wöhrle’s rich history with Deutsche Bank includes a stint as Executive Director at UBS, where she showcased her expertise in wealth planning.

    This newly minted expert team aims to assist clients throughout Germany in managing complex family wealth, crafting retirement strategies, and designing wealth transfer solutions like foundations and executorships. Wöhrle will report to Corrado Palmieri, Head of Advisory & Sales Wealth Management Germany, who is eager to leverage her insights for the benefit of clients.

    “With this new team, we are reinforcing our commitment to holistic advisory services,” said Raffael Gasser, Head of Wealth Management Germany. “We’re offering our clients solutions for one of their most pressing needs: navigating wealth transfer to the next generation.”

    Gasser himself joined Deutsche Bank from UBS not long ago, enriching the firm with his experience managing wealth for private clients in Northern Europe. His arrival marks a strategic shift, as Deutsche Bank aims to bolster its Wealth Management operations to reduce dependency on traditional interest income streams.

    Currently, the bank oversees €632 billion in its private client business, including wealth management and retail banking—still trailing behind heavyweights like UBS and Morgan Stanley, each boasting over one trillion U.S. dollars in assets. Gasser is determined to change that, stating, “With our strategy, we are laying the foundation to grow above the market and gain further market share – positioning ourselves as the undisputed number one in wealth management in Germany.”

    Questions & Answers

    How is Deutsche Bank restructuring its wealth management division?
    Deutsche Bank aims to streamline its wealth management operations by merging teams focused on affluent and high-net-worth clients, thus enhancing leadership and revenue potential.

    What roles have been filled by new hires in this reorganization?
    New hires include Nasim Amini as Head of the Southern Region and Naveed Arshad, who will focus on digital solutions for wealth management clients. Lisa-Marie Wöhrle will lead a new unit for family wealth planning.

    What is the strategic goal behind Deutsche Bank’s restructuring?
    The bank seeks to strengthen its Wealth Management operations to reduce reliance on interest income, aiming to create a more robust and competitive presence in the market amidst competitors managing significantly larger assets.

  • Deutsche Bank Launches Advisory Board with Henry Kissinger

    Deutsche Bank Launches Advisory Board with Henry Kissinger

    Deutsche Bank’s Management Board has created a new Global Advisory Board comprising experts from business, academia and politics.

    The Board’s task it is to advise the Management Board on fundamental macroeconomic, geopolitical and technological developments that have a significant impact on the bank’s operating environment, the bank announced in a media release Wednesday.

    The Management Board appointed Paul Achleitner, former Chairman of the bank’s Supervisory Board, as the founding Chairman of the Global Advisory Board. Other members are:

    • Henry Kissinger, former US Secretary of State
    • Eric Schmidt, former CEO of Google and Executive Chairman of Alphabet
    • Indra Nooyi, member of the Board of Directors of Amazon, member of the Supervisory Board of Philips, former Chair and CEO of PepsiCo
    • Rafael Reif, President of the Massachusetts Institute of Technology (MIT)
    • Jim Hagemann Snabe, Chairman of the Supervisory Board of Siemens, former Co-CEO of SAP

    The Global Advisory Board meets for the first time this Wednesday in New York. In the future, there will be two official meetings per year. Advisory Board members are also available to the Management Board with their advice between the meetings.

    Regular guests at the Advisory Board meetings will be Deutsche Bank Supervisory Board Chairman Alexander Wynaendts, Chief Executive Officer Christian Sewing and Chief Economist David Folkerts-Landau.

    Technological Revolution

    «Economic activity is shaped more than ever by the technological revolution of our time. The Advisory Board will develop ideas and proposals on how the bank and its clients can best navigate this environment, manage risks and seize the opportunities that arise,» Board Chairman Achleitner said.

    Lees ook:

  • A German Bank Wants its Customers to go Cashless

    A German Bank Wants its Customers to go Cashless

    In a country where cash has been king for decades, Deutsche Bank will stop allowing customers to pick up cash at its counters.

    There is a German adage that Geld Stinkt Nicht, which translates into money doesn’t stink, and helps to explain the country’s strong, and perhaps a stereotypical, preference for cash over the years. Deutsche Bank is seeking to change that.

    In tapping into another German trait, that of frugality, Lars Stoy, who heads domestic retail banking operations of Germany’s largest commercial bank said at an investor conference that «In the future, I don’t want to offer cash in the branches anymore, because holding cash incurs costs.

    While not specifying a timeline for the changes, Stoy said that cash would only be offered in a few large centers and that generally, he wants to further reduce the number of branches in Germany.

    The main task of the branch is sales along with “advising customers on investments, mortgages, to a certain extent on consumer loans and insurance. Once that is the case, then the branches will be profitable again, Stoy said.

    Moreover, the plans are in response to changes in customer behavior, with the trend toward cashless payments significantly increasing, while at the same time demand for personal advice is also on the rise, Stoy said.

    In terms of cash supply, Deutsche Bank will maintain a nationwide network of ATMs adding that money can also be withdrawn at supermarkets or gas stations.

    Lees ook:

    Lees ook:

  • Deutsche Bank Calls Russia IT Staff to Germany

    Deutsche Bank Calls Russia IT Staff to Germany

    Having a large IT center in St. Petersburg leaves Deutsche Bank highly exposed to Russian sanctions. As a result, it has decided to take a bold action.

    Deutsche Bank brought several hundred Russian computer scientists to Berlin, as reported by Germany’s citing anonymous sources.

    The bank operated a large technology center in St. Petersburg, Russia, for years. With Russia’s war of aggression against Ukraine and the West’s sanctions, the hub comprising some 1,500 programmers, previously made headlines.

    The number of staff there represents about a quarter of investment banking IT specialists.

    At the time, the report stated there was no code or data housed in the Russian Technology Center (RTC), and after a three-day stress test last week, Deutsche Bank told regulators there was no immediate systemic risk to its IT infrastructure.

    A failure of the center would be a major blow to Deutsche Bank. By moving to Berlin, Deutsche Bank reduces the risk of losing an enormous amount of expertise. In the meantime, the major Swiss banks UBS and Credit Suisse have also moved to withdraw staff from Russia or put them on leave.

    Lees ook:

  • Deutsche Bank Raided Over Alleged Greenwashing

    Deutsche Bank Raided Over Alleged Greenwashing

    German prosecutors raided the offices of asset manager DWS and its controlling shareholder Deutsche Bank over allegations of «greenwashing,» according to media reports.

    Deutsche Bank and its around 80 percent-owned asset manager DWS were raided over allegations DWS misled investors about how green the investments marketed as green or greener really were, the reports said.

    The move may send shivers down the spine of investors globally as green investments, or investments marketed as using environmental, social and governance (ESG), indicators have surged in popularity. In early 2021, global ESG assets were projected to top US$53 trillion by 2025, or more than a third of the projected total of assets under management of US$140.5 trillion in that timeframe.

    The German authorities said they were responding to news reports and a whistle-blower’s allegations about DWS’ marketing tactics greenwashing its offerings, adding sufficient factual evidence has emerged about how little ESG factors were allegedly used to determine investments.

    DWS and Deutsche Bank have previously said they would cooperate with authorities, and DWS repeated its denial of the allegations. Deutsche Bank said the raid was directed at unknown people in connection with the DWS allegations.

    DWS has stopped using the label ESG integrated, in a move that came after DWS’ former sustainability head, Desiree Fixler, alleged the label didn’t result in meaningful moves by fund managers. Fixler was fired last year, and lost her unfair dismissal case in Frankfurt in January.

    Both U.S. and German regulators had begun investigations in 2021 into allegations from Fixler over potential greenwashing, «Reuters» said, noting both U.S. and EU regulators are working to create rules to define greenwashing.

    Lees ook:

  • Deutsche Adds Over a Dozen Private Bankers in India

    Deutsche Adds Over a Dozen Private Bankers in India

    Deutsche Bank Wealth Management has made a significant expansion in India with the hire of more than a dozen for the front office and product units.

    Deutsche Bank Wealth Management in India has made over 15 hires across relationship management and investment advisory join this year and early 2022, according to a statement.

    The business opportunity in India has become very compelling with the material wealth creation driven by entrepreneurial activity, said Amrit Singh, head of wealth management, global South Asia.

    We are now shifting gears and expanding our long-standing and established team as we seek to support our clients and reach new ones with our full suite of products and solutions.

    For the front office, the German private bank hired Rajasekar Ayyalu to join as a director in Chennai with a focus on expanding and deepening its presence in that region.

    Ayyalu was most recently with Julius Baer where he was an executive director for investments. Previously, he also worked at Merrill Lynch and Royal Bank of Scotland.

    The bank has also hired four vice presidents – Jai Bhatia, Sanyam Sharma, Anjali Vashisth and Manish Lalwani – to join as relationship managers in the Delhi and Mumbai offices.

    Deutsche Bank has also been bolstering its product capabilities in India, including the hire of Mayank Khemka as chief investment officer in December 2019 which subsequently led to the launch of a domestic discretionary portfolio management business.

    Adding to its existing shelf of equity multi-cap and multi-asset customized strategies, the bank introduced a fixed income strategy following the hire of Bhupendra Meel as a fixed income fund manager.

    We are delighted to bring on board some of the most promising talents in the private banking industry, said Atinkumar Saha, head of wealth management, Deutsche Bank, India.

    Lees ook:

  • Deutsche Bank Backs Nomination of Ex-Aegon Chief as Chairman

    Deutsche Bank Backs Nomination of Ex-Aegon Chief as Chairman

    Deutsche Bank’s supervisory board committee supported the nomination of a new chairman, formerly from Dutch insurance firm Aegon.

    The supervisory board committee fully backed the nomination of Alexander Wynaendts as the German lender’s new chairman and he now awaits the appointment to be confirmed by shareholder votes in May, according to a report citing an internal memo.

    If successful, Wynaendts will succeed current chairman Paul Achleitner, another former insurance executive from Allianz.

    Wynaendts has experience in the fields that always made Deutsche Bank stand out: strong expertise in retail, corporate, and capital markets business as well as in asset management – and a global network, said Deutsche Bank chief executive Christian Sewing in the memo.

    Wynaendts has over 30 years of experience in the financial sector, serving as CEO and chairman of Aegon from 2008 to 2020 after first joining the Hague-headquartered insurer in 1997.

    At Aegon, Wynaendts led the insurer through a 3 billion euro ($3.39 billion) state bailout and restructuring in the midst of the 2008 financial crisis.

    He began his financial services career with ABN AMRO in 1984, working in the Dutch lenders’ private banking and investment banking operations in Amsterdam and London.

    Lees ook:

    Lees ook:

    Lees ook:

  • StanChart Nets Ex-Safra Singapore CEO

    StanChart Nets Ex-Safra Singapore CEO

    Standard Chartered has hired the former Singapore chief executive of J. Safra Sarasin to lead its South Asia private banking segment.

    Vinay Gandhi joins Standard Chartered as its regional head, ASEAN and global head, global South Asian community, private banking, according to a statement, subject to regulatory approval.

    Based in Singapore, Gandhi will report to global head of affluent coverage Raymond Ang when he joins the bank in the first quarter of 2022.

    Seasoned Private Banker

    Gandhi has 30 years of financial experience, most recently with J. Safra Sarsin where he was last its Singapore CEO and Asia deputy CEO.

    Previously, he also worked for UBS Wealth Management, Deutsche Bank and Citi Private Bank.

    Gandhi’s profound knowledge of affluent clients in Standard Chartered’s footprint markets and proven track record in leading effective teams will be a strong addition to our team, Ang said in the statement.

    Lees ook:

  • Deutsche Bank Adds Greater China Wealth Vet from HSBC

    Deutsche Bank Adds Greater China Wealth Vet from HSBC

    Deutsche Bank has hired a former HSBC executive as a managing director in its wealth management unit.

    Tse Yi-Mun joins Deutsche Bank Wealth Management as a managing director and group head for North Asia, according to a statement.

    Based in Singapore, she reports to North Asia head of wealth management Kanas Chan.

    Tse has 23 years of private banking experience, most recently with HSBC Private Banking where she was its market head for Hong Kong. Previously, she also worked for DBS and ABN AMRO covering the Greater China market.

    Lees ook:

  • Deutsche Bank Hires Ex-Bank of Singapore MD

    Deutsche Bank Hires Ex-Bank of Singapore MD

    A former managing director from Bank of Singapore has joined Deutsche Bank’s wealth unit in Singapore.

    Deutsche Bank Wealth Management hired Faye Lee as a managing director, according to a statement, tasked with covering ultra-high net worth clients in Southeast Asia.

    Based in Singapore, she joins a team led by Southeast Asia head Shang-Wei Chow and reports to group head of Southeast Asia Terence Leong.

    Lee has over 17 years of wealth management experience, most recently with Bank of Singapore where she was a managing director. Previously, she also worked for ING Asia Private Bank, prior to OCBC’s acquisition in 2009, Citi and HSBC.

    Lees ook:

    Lees ook:

    Lees ook: