Deutsche poaches private wealth manager from Citigroup

Ravi Raju joins Deutsche Bank as head of its private wealth management team in Asia-Pacific.
Deutsche Bank announced on Wednesday (February 14) the appointment of Ravi Raju as head of private wealth management in Asia-Pacific, effective 8 March, 2007.

"The economic growth in Asia has created wealth at an unprecedented rate. Under Ravi RajuÆs leadership, we will further invest in growing our private wealth management franchise in the region,ö says Colin Grassie, chief executive officer, Deutsche Bank Asia-Pacific.

Raju will assume the current responsibilities of Rico Caduff, who has been appointed to the new role of chairman, private wealth management, Asia-Pacific. Raju will join Caduff on the bankÆs global private wealth management executive committee. Kenneth Toong, head of private wealth management North Asia, will become deputy head of private wealth management Asia.

Raju was previously with Citigroup global wealth management, where he was managing director, head of investments for Asia Pacific and Middle East and was responsible for capital markets advisory, portfolio counselling, investment strategy, product management and Treasury activities, in addition to business strategy and development. He has been with Citigroup for 16 years and has held various positions across its business sectors. He has been replaced by Samir Raslan as Citi.

Deutsche Bank says that Caduff has very successfully led the development of its private wealth management business in Asia Pacific for the last 8 years, achieving a 25% compound annual growth rate.

"Ravi RajuÆs focus will be on delivering world class services to our rapidly expanding client base and to continue to implement our growth strategy in Asia,ö says Pierre de Weck, global head of private wealth management at Deutsche Bank.
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