Deutsche hires Bagga to lead private banking in India

Ajay Bagga becomes head of Deutsche's private wealth management business in India, replacing Nikhil Kapadia who will oversee business development for onshore private wealth businesses in the region.

In a move that strengthens Deutsche Bank's private banking franchise in the region, the German bank has appointed Ajay Bagga, the former chief executive of Lotus India Asset Management, as head of its Indian private wealth management business.

Bagga, who started at Deutsche on Wednesday, left Lotus late last year after the money manager was sold to India's Religare Enterprises, part of the Ranbaxy group. He has more than 20 years of experience in financial services. Bagga started his career...

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