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- Deutsche Bank (DB -3.5%)hires a team of five senior wealth managers from UBS (UBS -1.6%), as it seeks to expand its Swiss-based private banking business for wealthy British and Northern European customers, Reuters reports.
- Raoul Zehnder will lead the team, which serves ultra-wealthy customers and family offices that manage their wealth, according to statement made by Deutsche Bank.
- Zehnder will start his role on Oct. 1, joined by senior relationship managers Patrik Minuscoli and Michael von Mecklenburg, senior investment manager Philipp Portenier, and account manager Vincent Weisse.
- Previously, (June 21) Deutsche Bank forms JV with Fiserv for payment acceptance in Germany.