Deutsche Bank Wealth Management has made a significant expansion in India with the hire of more than a dozen for the front office and product units.
Deutsche Bank Wealth Management in India has made over 15 hires across relationship management and investment advisory join this year and early 2022, according to a statement.
The business opportunity in India has become very compelling with the material wealth creation driven by entrepreneurial activity, said Amrit Singh, head of wealth management, global South Asia.
We are now shifting gears and expanding our long-standing and established team as we seek to support our clients and reach new ones with our full suite of products and solutions.
For the front office, the German private bank hired Rajasekar Ayyalu to join as a director in Chennai with a focus on expanding and deepening its presence in that region.
Ayyalu was most recently with Julius Baer where he was an executive director for investments. Previously, he also worked at Merrill Lynch and Royal Bank of Scotland.
The bank has also hired four vice presidents – Jai Bhatia, Sanyam Sharma, Anjali Vashisth and Manish Lalwani – to join as relationship managers in the Delhi and Mumbai offices.
Deutsche Bank has also been bolstering its product capabilities in India, including the hire of Mayank Khemka as chief investment officer in December 2019 which subsequently led to the launch of a domestic discretionary portfolio management business.
Adding to its existing shelf of equity multi-cap and multi-asset customized strategies, the bank introduced a fixed income strategy following the hire of Bhupendra Meel as a fixed income fund manager.
We are delighted to bring on board some of the most promising talents in the private banking industry, said Atinkumar Saha, head of wealth management, Deutsche Bank, India.