citis-loss-is-deutsches-gain-as-18-jump-ship

Citi's loss is Deutsche's gain as 18 jump ship

Most of the 18 private bankers that Deutsche Bank has poached from Citi will be based in Singapore.
In the latest post-bonus season reshuffle, Deutsche Bank has poached 18 private bankers from Citi. A Deutsche Bank spokesperson confirmed that the majority of the bankers will be based in Singapore.

There seems to be some confusion regarding the nature of the hire. Some sources with inside information say that all the bankers are product specialists, while others say the 18 are evenly split between product specialists and relationship managersinvestment advisers who have direct client responsibility and interface.

Deutsche currently has about Ç21.5 billion $29 billion of private banking assets under management in Asia. Citi private bank manages more than $60 billion of assets in the region.

In February 2007, Deutsche announced it...
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