A “Bank For Entrepreneurs” – Tying Wealth, Corporate Services Together At Deutsche – Wealth Briefing

This publication recently caught up with Deutsche Bank’s international private bank head at the London Frieze Art Fair, and delved into the details of how the lender is building out offerings in Europe and further afield.

Deutsche’s “bank for entrepreneurs” offering showcases how the
commercial and wealth management sides of the group can dovetail
to suit the needs of clients whose business and private needs
often intersect. 

The Frankfurt-listed bank has so far rolled out its “bank for
entrepreneurs” model in Spain and Italy and plans to extend this
to other European locations and then to Asia-Pacific, Claudio de
Sanctis, who is the head of the international private bank and
CEO Deutsche Bank EMEA, told this publication recently.

The business model is constructed so that the bank can serve
entrepreneurs, such as those running medium-sized firms, across
all areas and for the entrepreneur to view the bank as a single
entity.

“First leading indicators [of the Spanish and Italian businesses]
are very positive and we will roll this out in select locations,”
he said. This “bank for entrepreneurs” offering has already
generated a buzz; the firm is getting enquiries from other
private bankers interested in coming on board, de Sanctis told
this news service. He spoke at the recent London Frieze Art Fair,
for which Deutsche
Bank is the main sponsor.

“The ‘bank for entrepreneurs’ refers to the integration of wealth
management coverage and commercial bankers to cater to
family-owned large Italian and Spanish companies and SMEs. The
integration aims to provide holistic banking services at every
stage of our entrepreneurial client’s life and business cycle,
from business needs such as lending and corporate finance to
advising on their private wealth management needs,” he
said. 

Part of the attraction, so Deutsche Bank will hope, is in giving
clients access to its balance sheet and expertise across all
divisions. This is a challenging area to succeed in, particularly
given pressures on investment banking in recent years and the
need to control risk exposures.

Hard numbers 
Overall figures at the international private bank have been
broadly positive, rising 6 per cent year-on-year to come in at
€803 million ($927 million). Within private banking and wealth
management, revenues rose 2 per cent when adjusted for specific
items and the impact of foreign exchange movements. The group
logged positive net new asset growth for the seventh quarter in a
row, with €3.1 billon during the third quarter. The first nine
months of the year saw net inflows of €16.8 billion, up 137 per
cent on a year ago. And the bank hired more than 150 wealth
management professionals globally in the first nine months of the
year.

Affluent
For the “affluent” business, …….

Source: https://www.wealthbriefing.com/html/article.php?id=192879