Deutsche Bank has expanded its wealth management team in India by hiring more than 15 bankers and product professionals who will join its relationship management and investment advisory teams in 2021 and early 2022.
“The business opportunity in India has become very compelling with the material wealth creation driven by entrepreneurial activity,” says Amrit Singh, the bank's head of wealth management, global South Asia. “We are now shifting gears and expanding our long-standing and established team as we seek to support our clients and reach new ones with our full suite of products and solutions.”
Among the new hires is Rajasekar Ayyalu, who has joined as a director in Chennai where he will be responsible for expanding and deepening the bank’s presence in that jurisdiction. He joins Deutsche Bank from Julius Baer where he was an executive director of investments, prior to which he worked at Merrill Lynch and the Royal Bank of Scotland.
In addition, four vice-presidents – Jai Bhatia, Sanyam Sharma, Anjali Vashisth and Manish Lalwani – have joined the Delhi and Mumbai offices as relationship managers.
For the last couple of years, Deutsche Bank has been bolstering its offering to high-net-worth and ultra-high-net-worth clients through the roll-out of enhanced product offerings. In June 2020, the bank launched the discretionary portfolio management business in India, following the hiring of Mayank Khemka as chief investment officer for India in December 2019.
In addition to the equity multi-cap and the multi-asset customized strategies, the team launched a fixed-income strategy following the hire of Bhupendra Meel as fund manager for fixed income.