Deutsche Bank Asia Pacific wealth management head leaving to join UBS: Source

Deutsche Bank's Asia Pacific wealth management business head Ravi Raju is leaving the German firm to join UBS Group.
Deutsche Bank's Asia Pacific wealth management business head Ravi Raju is leaving the German firm to join UBS Group. PHOTO: THE BUSINESS TIMES

HONG KONG (REUTERS) - Deutsche Bank's Asia Pacific wealth management business head Ravi Raju is leaving the German firm to join UBS Group, a source with direct knowledge of the development told Reuters on Tuesday.

It was not immediately clear what would be Mr Raju's new role at the Swiss private banking major, where he is expected to start in a few months, the source said, declining to be named as the information is not public yet.

Deutsche Bank and UBS spokesmen in Asia and Mr Raju declined to comment when contacted by Reuters.

Hong Kong-based Mr Raju played a key role in building Deutsche Bank's wealth business in the region, which was ranked eighth by industry publication Asia Private Banker in its 2015 survey, overseeing more than 700 employees in 15 locations in Asia-Pacific.