Deutsche Bank Wealth Mgt names new head of global products & solutions for EM

DEUTSCHE Bank Wealth Management on Wednesday said it has appointed Rajesh Mahadevan as its head of global products and solutions (GPS) for emerging markets, as it extends its product capabilities in the Asia-Pacific, the Middle East and Africa region.

Mr Rajesh Mahadevan will take up his new role in January, and be based in Singapore.

He is currently global South Asia (GSA) group head of Middle East for Deutsche Bank Wealth Management, and is based in Dubai, where he has focused on "sustainably growing the region", the bank said. 

Prior to joining Deutsche Bank, Mr Rajesh Mahadevan ran investments and sales for Bank of America in the Middle East, and was head of investment products at Citigroup.

Lavanya Chari, global head of GPS, said: "We're accelerating our growth plans in Asia-Pacific, the Middle East and Africa with new hires, technology investments and a broader range of innovative investment solutions for our clients." 

Singapore-based Ms Chari, who was head of GPS for emerging markets before taking on her global role earlier this year, added: "Rajesh will be an energetic driver as we expand our product offering, including our wealth advisory service, and accelerate our environmental, social and governance (ESG) strategy to help meet increasing demand from our clients to add purpose to performance."

Earlier this week, Sam Descovich also joined Deutsche Bank Wealth Management from UBS, as the head of GPS in the Americas. Mr Desovich spent 19 years at UBS, most recently as Americas head of capital markets solutions, and previously held asset management roles at Lazard, Nomura and Salomon Smith Barney.

As at end June this year, Deutsche Bank Wealth Management has client assets of about 300 billion euros (S$455 billion).