Deutsche's Asia wealth business woos mega-rich

Singapore

DEUTSCHE Bank AG's Asia-Pacific wealth-management business aims to increase revenue by 20 per cent in 2015 by targeting the region's richest people.

The bank will seek new clients and try to lure money from existing customers as it focuses on individuals with at least US$100 million of potential investable assets, said Mark Smallwood, Deutsche Asset & Wealth Management's head of franchise development and strategic initiatives in the region. It will focus on Singaporeans, Hongkongers, Indonesians, Chinese and non-resident Indians, he said.