Deutsche Bank to Create $281 Billion International Private Bank
Hong Kong | 12th June 2020
Deutsche Bank has announced plans to merge its Wealth Management and Private & Commercial Business International units into a new International Private Bank. The new International Private Bank will have $281 billion Assets under Management (AUM) (EUR 250 billion) and combined revenue of around $3.38 billion (EUR 3 billion).
Summary
- Deutsche Bank creates new International Private Bank
- Merge its Wealth Management and Private & Commercial Business International units
- With $281 billion AUM (EUR 250 billion)
- Combined revenue of around $3.38 billion (EUR 3 billion)
” Deutsche Bank Creates $281 Billion International Private Bank “
Deutsche Bank International Private Bank
The International Private Bank will bring together Wealth Management’s globally connected clients across Germany, Europe, the Americas, Asia and the Middle East and Africa, along with private clients and small and medium-sized enterprises in Italy, Spain, Belgium and India.
Claudio de Sanctis, Global Head of Wealth Management will become Head of the International Private Bank and CEO EMEA. Ashok Aram, Head of Private & Commercial Business International and CEO EMEA, has decided to leave Deutsche Bank for personal reasons. Ashok Aram had joined the company in 1995 and has held a variety of senior leadership roles in Tokyo, Singapore, Frankfurt, New York, London and Dubai.
Karl von Rohr, Deutsche Bank’s President and Head of the Private Bank:
“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.”
Claudio de Sanctis, New Head of the International Private Bank and CEO EMEA:
“With the International Private Bank, we will create a truly global organisation with a unique focus on serving entrepreneurial individuals and families with European connectivity as well as a personal banking powerhouse in major Eurozone markets. Combining our internationally focused Private Bank businesses will allow us to develop our market share within and across local markets. We will be able to provide greater access for private banking clients to our wealth management capabilities and to combine forces to offer superior digital services to our private, wealth and commercial clients.”
Deutsche Bank
Founded in 1870, Deutsche Bank is Germany’s largest bank and is one of the largest bank in the Europe and the world with $1.46 trillion assets (EUR 1.298 trillion), employing more than 87,000 employees worldwide and operating in 59 countries. The German bank has key business units including Corporate Bank, Investment Bank, Private Bank and DWS Asset Management.
In 2019, Deutsche Bank reported revenue of $25.2 billion (EUR 22.4 billion) and net loss of $2.9 billion (EUR 2.6 billion). Deutsche Bank is listed on Deutsche Börse (Xetra, Frankfurt Stock Exchange) and New York Stock Exchange (NYSE), with a market capitalization of $20.33 billion (12/6/20).
Deutsche Bank
- Founded: 1870
- Listed on: Deutsche Börse (Xetra, Frankfurt Stock Exchange) and New York Stock Exchange (NYSE)
- Market Cap: $20.33 billion (EUR 18.06 billion)
- Revenue: $25.2 billion (EUR 22.4 billion)
- Profit / Loss: – $5.9 billion (EUR 5.3 billion)
Notes
- EUR/USD: 1.13 (1 EUR = $1.13)
- EBIT – Interest before interest & tax
- AUM – Assets under Management
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
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