Deutsche's Asia wealth business woos mega-rich
Unit aims to increase revenue by 20 per cent next year
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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
Barclays is the latest firm to face anti-ESG wrath in Oklahoma
Barclays prices mortgage-backed notes in deal with GoldenTree
TD risks an earnings hit from US laundering probe, analysts say