Deutsche Bank adds 12 private bankers in Hong Kong

Deutsche Bank Private Wealth Management has expanded its North Asia headcount by seven and made five replacements in the past six months.
Jane Zhou: Senior relationship manager for the Philippines
Jane Zhou: Senior relationship manager for the Philippines

As further evidence of a pick-up in hiring at private-wealth firms, 12 bankers have joined Deutsche Bank Private Wealth Management's North Asia team in the first half of this year.

There has been considerably more hiring in private banking in Hong Kong this year than during the crisis of the last two years, but nowhere near the levels of 20062007, says Thomas Stemp, a wealth-management recruiter at Pelham Search Pacific in Hong Kong.

Clients are being far more selective on who they take on board and are more reserved on compensation, he tells AsianInvestor. Particularly regarding sign-on bonuses, which are considered a rarity these days....

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