Deutsche fuses wealth management, international units

Wednesday, 10. June 2020 17:01

Deutsche Bank AG announced on Wednesday it will merge its wealth management and private & commercial business international units into a new international private bank.

The business will have around €250 billion of assets under management and a combined revenue of approximately €3 billion, Deutsche's announcement read.

"This exciting combination is the next step in the Private Bank’s transformation announced last July. I am delighted that Claudio will lead our new growth pillar. He has made a major contribution since joining Deutsche Bank in December 2018 and possesses all the qualities and energy needed to lead this strategically vital business for Deutsche Bank," Deutsche's president Karl von Rohr said in the press release.

Related Links: Deutsche Bank AG
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Breaking the News / MD