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Deutsche targets ultra-high-net-worth market with family office offering

Deutsche Bank is launching a new team to offer investment and corporate finance solutions to family office and ultra-high-net-worth clients.

The bank has announced this morning an Institutional Wealth Partners group, allowing Deutsche’s wealth management team to plug into the wider bank’s solutions for premium level clients, offering “specific advice and customised solutions”.

In Europe, the team will be based across London, Frankfurt and Zurich, and the service will be managed by regional heads globally.

Head of Deutsche Bank Wealth Management in Europe Claudio de Sanctis says: “Complementing our wealth management solutions with capabilities from other areas in our bank makes us more agile in responding to the sophisticated needs of our clients. Institutional Wealth Partners links these competences and transforms them efficiently into bespoke solutions.”

Are the ‘big bad banks’ making a comeback?

Regional Head of Deutsche Bank Wealth Management IWP in Europe Caroline Kitidis adds: “Ultra-high-net-worth clients and family offices want to be more actively involved in identifying and realising investment opportunities. Our team is best set to cater to these exclusive needs.”

Despite major bank mulling digital and robo-advice style services, the majority of movements in the market seem to remain at the top end when it comes to advice, with the new Lloyds and Schroders financial planning joint venture also eyeing private clients from the bank.

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