Deutsche Bank's wealth unit boosts staff strength

German lender Deutsche Bank has hired several new faces for its wealth management unit in Singapore to support its growth strategy in Asia.

They include six relationship managers from rivals, who are joining Deutsche Bank Wealth Management to look after clients in South-east Asia.

The first team of four, led by Mr Jonathan Ng, was from BNP Paribas Wealth Management Singapore.

Mr Ng reports to Mr Kwong Kin Mun, who heads wealth management coverage in South-east Asia.

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

Deutsche Bank also hired employees to bolster its operations, project management and service support functions.

In October, it hired two senior people to strengthen its product platform.

Earlier this year, Mr Lok Yim, head of Deutsche Bank Wealth Management, Asia-Pacific, said the bank plans to invest in talent and technology in the region.

A total of 100 employees who deal face-to-face with clients will be hired globally. Of these, half will be based in the Asia-Pacific region.

Deutsche Bank Wealth Management said it has employed more than 50 new hires in Hong Kong, Singapore and Dubai for a variety of its activities, including IT, Know-Your-Client, project management, operations and product platforms.

A version of this article appeared in the print edition of The Straits Times on December 07, 2017, with the headline 'Deutsche Bank's wealth unit boosts staff strength'. Print Edition | Subscribe