Deutsche Bank plans Asia wealth expansion with 50 new hires

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 on Thursday.