Deutsche Bank hires 6 JPMorgan private wealth bankers

March 11, 2008

Deutsche Bank hires 6 JPMorgan private wealth bankers

HONG KONG - DEUTSCHE Bank Private Wealth Management said it had hired six private wealth bankers from JP Morgan , beefing up its team serving Hong Kong's rich families and entrepreneurs. Banks across the region have sought to build up private banking groups to tap the surge in personal wealth of business leaders and their families profiting from China's booming economy. Deutsche Bank said on Tuesday it hired Ms Margaret Kwong, former head of JP Morgan Bank's Hong Kong Coverage team, to become a managaing director reporting to Mr Kenneth Toong, its North Asia head. Other JP Morgan private bankers in the swap include: Ms Wendy Kong, appointed as managing director and relationship manager; Ms Alice Chow, managing director and investment adviser; Mr Wilfred Ng, director and investment adviser; Mr Wayne Wai, director and relationship manager; and Mr Frederick Fong, vice-president and relationship manager. Deutsche Bank said its private wealth management group recorded 19 per cent growth in invested assets in Asia Pacific last year. -- REUTERS