Deutsche Private Bank Hires Credit Suisse Urs Brudermann as Group Head of Southeast Asia, 2 Senior Private Bankers Shawn Ngoh & Pichaya Prawanmeet
16th August 2021 | Singapore
Deutsche Private Bank with more than $280 billion assets, has hired Urs Brudermann as Managing Director & Group Head of Southeast Asia of Deutsche Bank Wealth Management. Urs Brudermann joins from Credit Suisse Private Bank where he was the Team Leader for Thailand, and has more than 20 years of wealth management experience at UBS and Credit Suisse. Deutsche Bank Wealth Management Head of Southeast Asia Shang-Wei Chow, also announced the hiring of Shawn Ngoh from Credit Suisse as Director and Pichaya Prawanmeet from Credit Suisse as Vice-President. Deutsche Private Bank has been on a leadership hiring drive in 2021, including the hiring of HSBC Private Bank UHNW Market Lead & Desk Head of Greater China Terence Leong as Deutsche Bank Wealth Management Group Head of Southeast-Asia.
“ Deutsche Private Bank Hires Credit Suisse Urs Brudermann as Group Head of Southeast Asia “
Urs Brudermann, Group Head of Southeast Asia of Deutsche Bank Wealth Management
- More than 20 years of wealth management experience at UBS and Credit Suisse
- Credit Suisse Private Bank Team Leader for Thailand (HK, SG)
- Credit Suisse Private Bank Head of Business Management Malaysia & Investment Consulting Singapore
- More than 9 years in multiple Wealth Management roles at UBS
Shawn Ngoh, Director at Deutsche Bank Wealth Management
- Director, Credit Suisse
- Managing UHNWs & HNWs in Southeast Asia, UOB
- Managing UHNWs & HNWs in Southeast Asia, Citibank
Private bankers typically manages $100 million to $300 million of assets, with the most senior and top private bankers managing assets of $300 million to $1 billion and top UHNW private bankers can manage book size of $500 million to $2 billion.
Deutsche Bank Wealth Management Head of Southeast Asia, Shang-Wei Chow:
“Brudermann brings leadership and management skills to enhance our strength and will help to lead the growth blueprint in the region. This new team is part of the ongoing expansion strategy of South-East Asia.
We will continue to make strategic hires in the region to support clients’ needs. Deutsche Bank is on the right path building sustainable profitability, the team will continue to expand over the coming months, as we continue to expand our footprint across South-East Asia.”
Shang-Wei Chow, Southeast Asia Leader
In July 2021, Shang-Wei Chow began his role as Head of Southeast Asia Wealth Management at Deutsche Bank to lead and grow Deutsche’s Bank Wealth Management and Private Banking business in Southeast Asia.
Shang-Wei Chow has also joined from HSBC Private bank, where he was HSBC Private Bank Singapore and Malaysia Market Head. Prior to joining HSBC Private Bank, he was with UBS for 13 years.
In 2021 Q2, Deutsche’s Private Bank delivered strong performance with $16.5 billion (€14 billion) net inflows, generating revenue of €820 million, an increase of 9% from 2020 Q2 due to business growth in recovering markets. Private Banking and Wealth Management (WM) revenues were up 8% to €607 million, while Personal Banking revenues were up 14% to €213 million. (Adjusted for FX and specific items, Private Banking and WM revenues were up 10%)
Deutsche Bank is Germany’s largest bank and one of the largest bank in Europe and the world. Deutsche Bank International Private Bank manages more than $281 billion of assets globally (June 2020).
Southeast Asia, $3.1 trillion GDP, 650 million
Southeast Asia has more than 650 million population and a combined GDP of more than $3.1 trillion. Southeast Asia is also home to one of the fastest growing billionaires, UHNWs & HNWs in Asia.
Largest Economy in Southeast Asia, Financial Centre:
- Indonesia: $1.11 trillion
- Thailand: $543 billion
- Philippines: $376 billion
- Singapore: $372 billion (Financial Centre)
- Malaysia: $364 billion
- Vietnam: $261 billion
- Hong Kong: $365 billion (Financial Centre)
- Deutsche Bank Reports Q2 $1.42 Billion Profit, $40 Billion Net Asset Inflow from Private Banking & Asset Management
- Deutsche Bank Hires Terence Leong as Group Head South East Asia Wealth Management, 3 HSBC Private Bankers
- Deutsche Private Bank Launches 4 Funds with Regular Income Using ETFs, AUM at $4.1 Billion
- Deutsche Bank Launches ESG Centre of Excellence in Singapore
- Deutsche Bank Survey: 75% of Private Bank Clients View Investments Should Have Positive Impact to the World
- Malaysia Sues JP Morgan, Deutsche and Coutts for $2.93 Billion, Receives $452 Million from United States
- Deutsche Bank to Create $281 Billion International Private Bank
- 2020 List of International Private Banks in Hong Kong
- 2020 List of International Private Banks in Singapore
- 2020 Top 10 Largest Family Office in the World
- 2020 Top 10 Largest Multi-Family Offices in the World
About Deutsche Bank International Private Bank
Deutsche Bank’s Private Bank corporate division combines the private banking expertise of the market-leading Deutsche Bank and Postbank brands in Germany with the global network of the International Private Bank (IPB). This includes IPB’s global business with high net worth individuals and SMEs.
The Private Bank provides high-quality financial services from a single source. These range from comprehensive services for private customers and support for demanding entrepreneurs and their families, to solutions for SMEs in important Eurozone markets and India.
The Private Bank is one of the four pillars of Deutsche Bank, along with the Corporate Bank, Investment Bank and DWS, the institution’s asset management unit. Deutsche Bank is a leading bank in Germany with a global network and strong European roots.