Private Banking: Deutsche back with a bang in Asia
Search the results Deutsche Bank attributes its Asian success to experienced relationship managers drawing on the best products from its own and other banks’ offerings
Deutsche Bank Private Wealth Management did not take top spot in Euromoney’s Asian 2006 private banking poll, but its fourth position overall is an excellent result. It’s all the more impressive because in the 2005 poll, Deutsche didn’t make the top 10.
Private banking in Asia remains dominated by the big three players: UBS, Citigroup and HSBC. But, this year, Deutsche was nominated as the second choice of respondents in many of the regional categories. In all, it scored top three regional rankings in best services for the super affluent, best privacy, best relationship management and best technology.
As well as a creditable performance in service and platform, in line with its strong products franchise, Deutsche excelled in a number of other regional categories, with top three placing in equities, fixed income, futures, hedge funds, private equity and structured products, as well as several other categories.
Best of all, Deutsche beat the big three to be voted best provider of managed futures in Asia.
According to Rico Caduff, the head of Deutsche Bank’s private banking business in Asia, the firm’s key strength in the region is experienced and trustworthy relationship managers who have been with the bank for many years and have close relationships with clients and their families.