Deutsche Bank plans Asia wealth expansion

SINGAPORE: Deutsche Bank AG is stepping up hiring for its Asian wealth-management business as part of a “multi-year” expansion to bolster a unit that has lost key executives and assets in recent years.

Deutsche Bank Wealth Management plans to add 50 client-facing positions including relationship managers during the second half of the year after hiring 13 employees last month, Lok Yim, the unit’s Asia-Pacific head, said in a phone interview yesterday. He declined to spell out the hiring target for relationship managers, which totalled close to 200 as of December at his unit.