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The German lender’s latest recruit from J. Safra Sarasin is the latest in a series of hires as it looks to grow in the region. Deutsche Bank has hired Eric Leung to lead its Asia fixed income team in its Wealth Management division. The news was confirmed by a representative of the bank, who said he started on Wednesday.
Leung joins from global pure-play private bank J. Safra Sarasin, where he worked for over a decade, most recently as Executive Director and Head of Fixed Income Asia. Prior to that, he worked at HSBC Private Bank.
He will be based in Hong Kong, reporting to Akshay Prasad, managing director, head of capital markets, Wealth Management.
Under Lok Yim, the bank’s head of Asia, Middle East and Africa, Deutsche Bank WM has set its sights on Asia’s rich, bolstering its ranks to grow its business, particularly in North Asia.
In an interview with Reuters in 2018, he said Deutsche Bank is focusing on ultra high net worth clients in the region, those with more than $25 million, and the top end of the $5-$25 million high net worth bracket.
Deutsche has some $230 billion in assets under management (AUM), $56 billion of which is in Asia, according to Hong Kong-based Asian Private Banker.
