Deutsche Bank continues wealth biz consolidation
The bank aims at growing its business in markets such as Hong Kong, Singapore and the US.

Germany's largest bank plans to focus on growing its wealth business in markets such as Hong Kong, Singapore, the US and Switzerland, while closing “a few more“ booking centres between now and the end of next year, according to Fabrizio Campelli, Deutsche Bank's head of global wealth management.
“The cost of complexity, partly because of regulation and the controlled environment that we want to enforce, has gone up significantly and become too high,“ Campelli said in an interview Friday in Singapore.
“To do that effectively and efficiently, we need to choose“ the countries to focus on, Campelli added.
Download ET Markets APP