Wealth Management: Deutsche Bank to Hire 100 Client Managers

According to Reuters the wealth management division of Deutsche bank stated on Monday that it plans to hire almost 100 client managers across the world in 2017 to acquire super rich clients. The bank is specifically targeting the Asia-Pacific region. The bank plans to invest €65 million which is about $73 million in digital technology, which will develop features such as custom chief investment office news and portfolio health checks. The bank has seen soft growth and many departures over the last two years. October 2016, it’s a wealth management unit in Asia and Europe experienced significant outflows as it was penalized with $14 billion fine by the United States for mis-selling mortgage-backed securities right before financial crisis.