Marco Pagliara has officially taken on the role of head of emerging markets (EM) at Deutsche Bank Private Bank’s Singapore office, providing a ray of optimism for the German lender, which has faced notable personnel changes this year.

According to an internal memo seen by Asian Private Banker, Pagliara has transitioned to Singapore from Zurich along with his family. In his new role, he is responsible for supervising Deutsche Bank’s private banking operations across Asia Pacific, the Middle East, and Latin America.

Pagliara conveyed his personal anticipation for the EM region’s potential in the memo: “With APAC the cornerstone of our EM franchise, all Asia subregions are strong; North Asia is well established, momentum is building in Southeast Asia, we are well positioned onshore to tap India’s growing wealth, and the Global South Asia business is a clear competitive advantage,” he penned.

“Combining these markets with Middle East Africa and Latin America creates a powerful proposition as our clients seek expansion opportunities in different geographies.” Deutsche confirmed the contents of the memo.

Since assuming the position in June, Pagliara has already travelled to connect with his colleagues in Dubai, Hong Kong, and London. He is also preparing to visit India in the near future.

He joins his new role with other newly-appointed Asian leaders such as Jason Moo at Bank of Singapore and Victor Aerni at Pictet Wealth Management, attracting attention and raising expectations.

In Asia, Deutsche Bank Private Bank managed about US$70 billion as of end 2022, according to APB estimates. In India, it managed about US$3 billion during the same period. Part of Pagliara’s role is to leverage his expertise in the Middle East and use Deutsche Bank’s long-touted ‘one bank’ platform to build connectivity with Asia clients with ties to Europe, the Middle East and Latin America.