(Bloomberg) -- Deutsche Bank AG hired Raffael Gasser as head of wealth management and private banking Germany, tapping another former colleague of Private Bank head Claudio de Sanctis for a key role.
Gasser, who will start in November and report to de Sanctis, joins from UBS Group AG, where he led the business with wealthy clients in Northern Europe, according to a statement Thursday. Before that, he worked 14 years at Credit Suisse’s wealth management business.
Gasser joins a slew of managers Deutsche Bank has hired after Credit Suisse was taken over by its cross-town rival UBS. Among others, de Sanctis hired a team of 10 Credit Suisse wealth managers for the Middle East.
Deutsche Bank’s previous head of private banking in Germany, Lars Stoy, left earlier this month to become ING’s new CEO for Germany.
“We now want to continue to grow through a closer integration of Private Banking and Wealth Management,” said de Sanctis, who led Credit Suisse’s private banking activities in Europe before joining Deutsche Bank in 2018.
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