Deutsche Bank is revamping its investment advice for wealthy clients, finews.asia has learned. An Asian banker is taking over following the exit of a well-known Swiss banker.
The German lender's revamped its European wealth arm under Claudio de Sanctis last week with a hiring offensive that includes poaching from Goldman Sachs and Credit Suisse, as finews.asia reported. On Monday, it emerged separately that Swiss banker Stephane Junod will leave Deutsche Bank, according to a memo seen by finews.asia.
Junod, a ten-year veteran of Deutsche who worked out of Geneva, will be replaced by Tuan Huynh (pictured below), who is the bank's investment chief in Asia-Pacific. A spokesman for Deutsche confirmed the changes outlined in the memo.
From Singapore to Frankfurt
Junod, a ten-year veteran of Deutsche who worked out of Geneva, will be replaced by Tuan Huynh (pictured above), who is the bank's investment chief in Asia-Pacific. A spokesman for Deutsche confirmed the changes outlined in the memo.
Deutsche said it will move Huynh from Singapore to Frankfurt. Until arrangements for the seven-year Deutsche veteran's move to Germany are finalized, Nolting will stand in for him in Europe.
Potential Merger
The moves come as Deutsche and Commerzbank discuss a potential merger at the German government's urging. The talks cast uncertainty over the general future strategy including on wealth for Deutsche, which has been mired in difficulties for years and is on its third CEO in four years.
