Deutsche Asset & Wealth Management
Deutsche Bank’s onshore presence is a clear differentiating factor for winning the award. Indeed, the bank’s 142-year history in the country has helped it develop a clear understanding of local clients’ needs. Since it began offering private banking services on the Mainland in 2006, it has assiduously built its infrastructure at an impressive rate. Currently the private bank has branch offices in Beijing, Shanghai, Guangzhou, Chongqing, Tianjin and Qingdao, serviced by a team of 65 relationship managers.
Continuing a trend of high revenue growth, DeAWM has increased its revenue in China by 37% this last year and 142% over the last five years. Though DeAWM has doubled its number of ultra-high net worth (UHNW) clients since 2012, Asian Private Banker attributes its financial growth not to a simple client acquisition by numbers strategy, but to increased revenues from existing clients.
The bank made encouraging clients to diversify their portfolios – a challenge for many private banks – a focus in 2013. DeAWM’s success on this front is testament to Chinese UHNW clients’ trust in the bank as a key partner and their recognition of the considerable expertise DeAWM has demonstrated in understanding their needs.
One of the factors that helped DeAWM accomplish this feat is the bank’s outstanding range of products, from discretionary portfolio management to aircraft financing. In particular, Asian Private Banker was impressed by the range of integrated products and number of corporate finance transactions completed by the bank in 2013.
Its history in China, its deep understanding of clients’ needs, and its proven ability to achieve its goals clearly justify DeAWM as the winner of the Best Private Bank – China award for the third year running.