German bank ramps up in London and in Asia

Tom Burroughes

21 August 2009

Deutsche Bank WM division makes swathe of appointments in U.K., Asia. Deutsche Bank's Private Wealth Management unit has hired seven senior managers from UBS, Credit Suisseand Barclays Wealth to support its expansion in the U.K.

The London hires are of directors Melanie Cassoff, Neil Murray, Robin Perry, Natasa Williams, Andreas Wichmann, v.p. Joe Knight, and assistant v.p. Beatrice Rates.

Momentum

"We are excited about the momentum we are building in our wealth management business in the UK market," says Tom Slocock, head of Deutsche Bank PWM in the U.K. "These outstanding individuals bring a tremendous amount of experience and expertise to our clients and the appointments represent an important step in the realisation of our growth ambitions for the UK business."

Cassoff spent seven years at UBS in London, where she was responsible for attracting and managing U.K. clientst. Williams and Rates also join from UBS, where they worked in the Swiss bank's ultra-high-net-worth clients in London. Wichmann, Knight and Murray come from Credit Suisse. Perry joins from Barclays Wealth, where he worked in investment research and analysis.

Deustche Bank got a foothold in the U.K. wealth-management space in 2006 when it bought Tilney Investment Management.

Deutsche Bank has also made senior appointments for its north- and south-Asian business segments, tapping Hong Kong-based Lok Yim as head of its North Asia business, and Singapore-based Ajay Jaiswal as group head of its South Asian operations. Both joined Deutsche Bank in 2007, and both report to Deutsche Bank PWM Asian chief Ravi Raju.

Deutsche Bank PWM had $244.8 billion in assets at the end of June 2009. -FWR

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