Deutsche Bank Confirms Closure of Private Bank in Australia
Deutsche Bank has confirmed it will close the Australia wealth management business and service its customers from Singapore and Hong Kong. The exit allows the bank to focus on investment banking products and services. The transition of their client activities to other providers will be expected to complete in the first half of 2017.
News Source: Australian Financial Review
About Deutsche Bank
Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific. Founded in 1870, it has 2,790 branches around the globe, thereof 1,827 in Germany. The bank provides banking services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals — through four business divisions: Corporate and Investment Banking, Global Markets, Deutsche Asset Management, as well as Private, Wealth and Commercial Clients.
- Origin : Frankfurt, Germany
- Assets : EUR 1.63 trillion
- Revenue : EUR 33.53 billion
- Employees : 101,104
Official Website: www.db.com
News & Media: Press Release
Updated on 8th August 2016