Deutsche Bank to expand US wealth management division
Deutsche Bank is launching a mission to rapidly accelerate the growth of its wealth management arm in America, the company has announced.
The German bank has confirmed it will enlarge its team of relationship managers in the US by 25% this year.
Patrick Campion, head of Americas wealth management, said: “We’re getting dollar investment going into the unit for headcount… there’s great access to the management board.”
“The growth characteristics for our market is strong and it makes sense to invest in the US.” He added that the company uses “a very mature business model for delivering firm-wide solutions to our clients.”
The renewed drive into the US market comes just two years after DB sold much of its North American private banking arm.