Private Banks

Deutsche Bank announces strategic hires in Asia

Deutsche Bank Wealth Management has announced additions to its Global South Asia team, with a particular focus on Dubai and Mumbai. The bank has also announced the completion of a lateral move for a senior manager in Singapore.

So far, 21 investment and relationship managers have joined Deutsche Bank Wealth Management Global South Asia team (GSA) in 2019, joining the bank’s Dubai, India, Singapore and London operations.

The bank has stated that a further 4 are to join in 2020, who will bring the troops number of client-facing bankers in the GSA team to over 80, with a quarter of these based in India, according to a press release.

Achal Aroura joined the GSA team in October 2019, being appointed as the Group Head of the GSA team. Aroura will be based in Dubai.

Aroura was previously with Julius Baer, where he was a Senior Client Advisor and Group Head, Middle East and Africa for the Non-Resident Indian (NRI) business.

Mayank Khemka has been appointed as Head of Discretionary Portfolio Management (DPM) and Chief Investment Officer (CIO), Onshore India, for Deutsche Bank Wealth Management’s India operation.

Based in Mumbai, Khemka will report to Atinkumar Saha, Head of WM India, and Christian Nolting, Global Head of DPM and Wealth Management CIO. He has over 25 years of experience in Indian capital markets, having joined from Credit Suisse, where he spent nine years as Head of Investment Management, India, managing discretionary portfolios across asset classes.

Akshay Prasad has also been named as Head of Investment Management for GSA, moving from his previous role as Deutsche Bank’s Head of Capital Markets for Emerging Markets. Still based in Singapore, Prasad will report to Amrit Singh and Bobby Abraham, Regional Head of Institutional Wealth Partners in Emerging Markets, and will oversee all of the team’s investment managers and FX advisors.

Amrit Singh, Head of Wealth Management, GSA, said, “We are delighted to welcome our new senior managers and all the new relationship and investment managers to their new roles. The hires reflect Deutsche Bank Wealth Management’s ongoing commitment to invest in people, technology, advisory and investment solutions. They underscore our ambition to grow our client franchise in one of the world’s fastest growing regions where wealth creation and entrepreneurial activity are enjoying strong tailwinds.”

The appointments are part of Deutsche Bank Wealth Management’s drive to hire 300 relationship managers and investment managers globally by 2021, with its Emerging Markets region, which includes Asia Pacific, the Middle East and Africa, identified as an attractive area of growth.