Led by ex-Credit Suisse top boss Claudio de Sanctis, Deutsche Bank hires two more private bankers from the Swiss lender. They add to a team of thirteen it recently lifted from the larger rival.
Deutsche Bank is hiring two senior bankers from Credit Suisse, in addition to several from Julius Baer, Barclays and Citi amongst others, the German bank said in an emailed statement on Wednesday.
The move comes shortly after the German lender raided Credit Suisse for thirteen bankers catering to the super-rich. Deutsche's expansion is spearheaded by wealth head Claudio de Sanctis, who was promoted suddenly earlier this month. Previously, Fabrizio Campelli had detailed to finews.asia his plans to grow Deutsche's long-neglected private bank.
Deutsche is hiring Omar Abdullah Abouzeid a relationship manager for Saudi Arabia from Credit Suisse. He will reunite with another Credit Suisse alum, Ahmed Hammouda who joined Deutsche Bank earlier this year, after resigning from his role as market head for Egypt and head of the Saudi offshore business at the Swiss lender.
Heavy Regional Investment
Hammouda is based in Geneva while Abouzeid will be based in Dubai's International Financial Center or DIFC. The Middle East is a focus for de Sanctis, and one where Deutsche Bank is investing heavily.
Its additional hires for the region include Dion Marsden, who joins the Saudi offshore business team in Geneva from Citi's private bank. Deutsche is also poaching Standard Chartered's Hamza Hamza as an investment manager.
Deutsche's other hires include super-rich banker Naushair Malli from Julius Baer and Marwa Alani joins to head its Middle East desk based in London. Previously with local lender Emirates NBD, Alani will be responsible for building a model advice-led wealth management business in the U.K. for clients with ties to the region.
Wealth Refocus
The German bank is hiring Murtuz Zamanly as its representative officer in Bahrain. Zamanly was hired from a local asset manager, and previously worked for Credit Suisse and BNP Paribas.
Credit Suisse and Julius Baer bankers have been in demand at Deutsche Bank over the last year as it refocusses its business on wealth management and away from investment banking. Amrit Singh, head of Deutsche's South Asia business, hired three Credit Suisse bankers in August to join Deutsche's global South Asian business, then went back for more in November.
