Deutsche Bank taps seven for UK wealth management

LONDON - Deutsche Bank Private Wealth Management said on Friday it has hired seven specialists from rivals including Credit Suisse, UBS and Barclays as it expands its UK business.

By (Reuters)

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Published: Fri 21 Aug 2009, 6:49 PM

Last updated: Thu 2 Apr 2015, 3:45 AM

The hires include wealth managers Melanie Cassoff and Natasa Williams of UBS, Neil Murray of Highgrove Asset Management, Robin Perry from Barclays and Andreas Wichmann of Credit Suisse.

They will all have the rank of director, taking up their newly created positions in London by the end of the year.

Wealth management firms offer personalised financial services, including investments and estate planning, to high net-worth individuals. Deutsche Bank also said it had hired Joe Knight from Credit Suisse as vice-president and Beatrice Rates of UBS as assistant vice president.

‘The appointments represent an important step in the realisation of our growth ambitions for the UK business,’ said Tom Slocock, the chief executive hired from Credit Suisse in March to boost the profile of Deutsche’s UK private client unit.

In 2006, Deutsche acquired a regional footprint with the acquisition of UK wealth management firm Tilney Investment Management, which in March this year was integrated into the Deutsche Bank Private Wealth Management business.

Deutsche Bank’s private wealth management division had 171 billion euros ($244.8 billion) in assets globally at end-June.

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