Deutsche Bank hires 3 Credit Suisse wealth management executives in SE Asia push

A logo sits illuminated on Deutsche Bank AG headquarters office building in Frankfurt, Germany, on Monday, Nov. 6, 2017. Photographer: Krisztian Bocsi/Bloomberg

Deutsche Bank Wealth Management said on Monday it has hired three executives from Credit Suisse to work across Southeast Asia as part of an ongoing expansion strategy for the region.

Urs Brudermann, at Credit Suisse for the past 11 years and most recently as team leader for Thailand, joins Deutsche‘s wealth management arm as managing director and group head of Southeast Asia, Deutsche said in a statement.

Also making the move from Credit Suisse is Shawn Ngoh, who primarily manages ultra-high net worth clients across Southeast Asia, and joins Deutsche Bank Wealth Management as a director. Meanwhile Pichaya Prawanmeet has been appointed vice president, the statement said.

Credit Suisse has been working to retain staff around the world as it grapples with the fallout from the recent Archegos and Greensill Capital scandals.

A Credit Suisse spokeswoman in Hong Kong declined to comment on the three departures.

Credit Suisse is considering merging its three wealth divisions – the international business, Swiss business and a separate Asia Pacific division – into one, Reuters reported on June 30.

A merged wealth management unit could either combine the Asia-Pacific and International Wealth Management divisions, or further fold in the bank’s private banking business for ultra-wealthy customers in its home market, which now sits in its Swiss division.

In its second-quarter results, Credit Suisse said it had hired 60 people across its Asia-Pacific division in the past six months.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.