In August, Deutsche Bank poached Claudio de Sanctis from Credit Suisse. He has worked in Asia for a few years, what may further underscore the German lender's shift towards Asian wealth.
Deutsche Bank Swiss head Peter Hinder is leaving the German firm, following the appointment of Claudio de Sanctis as head of newly-created European business. In his previous role at Credit Suisse he has worked in Asia for a few years, as finews.asia reported.
Hinder’s exit follows a reorganization of Deutsche’s private banking activities into three regions: the U.S., Europe, and emerging markets, which encompasses Asia, the Middle East, and Africa. The Middle East and Africa portion went to Asian head Lok Yim (pictured below).
Turning to Growth
De Sanctis will be appointed CEO of Deutsche Bank in Switzerland, effective February 1. It is likely that he will also take over Hinder’s country head role, which oversees Deutsche’s asset management and investment banking activities in Switzerland as well.
Lok Yim for his part managed to stem a mass exodus in Asia when he took the helm two years ago, he said in a recent interview with finews.asia. Now, his focus is turning to growth.
