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Deutsche Bank wealth arm hires 6 S'pore RMs

Singapore

GERMAN lender Deutsche Bank announced on Wednesday a series of new hires to its wealth management unit in Singapore to support its growth strategy in Asia, including six relationship managers from rival firms to cover clients in South-east Asia.

The first team of four, led by Jonathan Ng, joined Deutsche Bank Wealth Management from BNP Paribas Wealth Management Singapore. Mr Ng reports to Kwong Kin-Mun, head of wealth management coverage for South-east Asia.

The second team of two, led by Gregory Goh, joined Deutsche Bank WM from Nomura Singapore. Mr Goh reports to Malcolm Tay, group head, South-east Asia for wealth management.

The firm also hired employees to bolster its operations, project management and service support functions. In October, it made two senior hires to strengthen its product platform.

Earlier this year, Lok Yim, head of Deutsche Bank WM, Asia-Pacific, announced the bank's plans to invest in talent and technology in the region. Half of a total of 100 client-facing employees to be hired globally will be based in the Asia-Pacific.

Deutsche Bank WM said it has already made more than 50 new hires in Hong Kong, Singapore and Dubai across client coverage, IT, Know-Your-Client, project management, operations and product platforms.

The business will also invest around 65 million euros (S$103 million) globally to enhance client-focused digital technology.