Deutsche Bank wealth arm eyes super-rich in Asia, Middle East
Deutsche Bank Wealth Management is hiring 100 client managers around the world in a bid to target the ultra-wealthy, particularly in Asia and the Middle East.
Deutsche
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Tax evasion crackdown will see wealth managers lose $13bn
Wealth managers around the world will lose around $13bn (£10bn, €11.5bn) of annual revenue due to a global crackdown on tax dodging as clients are set pull out $1.1trn out over the next few years, a new report suggests.
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PEOPLE MOVES: Manulife, Aegon, Legal & General
Manulife’s president and chief executive is to retire, while Aegon has appointed a policy affairs heavy hitter to oversee the company’s government relations in Europe, the Americas and Asia. L&G has a new head of strategic business for its pension risk transfer division.
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China’s HNA Capital takes top stake in Deutsche Bank
Chinese financial services group HNA has become the biggest shareholder in Deutsche Bank after increasing its stake to just under 10%, overtaking the Qatar royal family and BlackRock.
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PEOPLE MOVES: Standard Life/Aberdeen, RWC Partners, Zedra
New senior management team unveiled for the soon to be merged Standard Life and Aberdeen Asset Management. Amundi has appointed a head of consultant relations, with Zedra hiring an executive director to target growth opportunities.
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Deutsche AM cuts fees on new range of fixed income ETFs
Deutsche Asset Management has launched a range of low cost fixed income exchange traded funds (ETFs) which all use direct physical replication.
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PEOPLE MOVES: Axa, HSBC, JP Morgan
Axa Life Insurance has lost its head of international brokers in Singapore, while the private banking arms of HSBC and JP Morgan have named regional heads of various European countries.
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PEOPLE MOVES: Deutsche Bank, RLAM, J. Safra Sarasin
After Deutsche Bank’s head of anti-financial crime stepped down just six months into the job, the German bank has named his replacement. RLAM has created a global equity team by poaching three staff from Waverton IM, while J. Safra Sarasin has a new managing director for client advisory in Hong Kong.
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PEOPLE MOVES: Amundi, Moneyfarm, Deutsche Bank
Amundi has bolstered its multi-asset leadership, with Moneyfarm banking on industry experience in its CIO and CFO appointments. Deutsche Bank, meanwhile, is looking to innovate with two senior hires.
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PEOPLE MOVES: Prudential, Aegon, Deutsche Bank
Prudential has nabbed its new chief executive of insurance from Aegon, leaving the Dutch insurer to appoint a new chief financial officer. Deutsche Bank has appointed a global head for its alternative funds business.
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ANALYSIS: What if it is not as bad as we think?
There is a lot to worry about. From Aleppo to Zuma, geopolitical risk in all its forms dominates global headlines.
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Deutsche Bank profits surprise, litigation continues to weigh
Deutsche Bank posted a net profit of €278m (£249m, $303m) for the third quarter, beating analyst expectations and keeping the wolves at bay, for now.