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Deutsche Bank’s wealth management arm to hire 100 client managers

June 12, 2017

(Reuters) – Deutsche Bank AG’s wealth management division said on Monday it plans to hire about 100 client managers worldwide this year, as part of its efforts to win more super-rich customers, particularly in the Asia-Pacific region.

The bank said it would invest 65 million euros ($73 million) in digital technology to develop new features such as customized Chief Investment Office news and portfolio health checks.

Deutsche Bank’s wealth management arm has seen soft growth and several staff departures over the last couple of years.

In October, the wealth management unit in Asia and Europe witnessed significant outflows, following the imposition of a $14-billion fine by the U.S. for misselling toxic mortgage-backed securities before the financial crisis.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Arun Koyyur)

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