The German lender is shedding several notable private bankers in Switzerland, including the head of the Swiss unit. The sudden departure is the latest in a string of exits for troubled Deutsche Bank.
Paul Arni (pictured below) has left Deutsche Bank after just 18 months in the job as head of private banking in Switzerland, a source told finews.com. His departure comes alongside that of the head of ultra-high net worth clients and independent asset managers in Switzerland, the person said..
The sudden exits, first reported earlier on Wednesday by «Inside Paradeplatz» (in German), a popular Swiss banking blog, come against the backdrop of a tumultuous period for Deutsche Bank as well as a series of upheavals and organizational changes at its substantial Swiss arm.
A spokesman for Deutsche Bank didn't comment. Arni, a well-known Swiss private banker previously with UBS, Credit Suisse, and Julius Baer, joined Deutsche in 2017. His mandate was to enliven the German bank's wealth management arm in Switzerland, which had just been carved out from the wider unit at the time.
Leadership Overhaul
The arrival of Claudio de Sanctis from Credit Suisse in January complicated the ranks of private banking leaders at Deutsche. As a result, previous Swiss bank and country head Peter Hinder departed in January, after a reorganization of Deutsche's wider private bank. De Sanctis took over part of Hinder's job last month.
Deutsche employs roughly 700 people in Switzerland, mostly in wealth management, but it also maintains asset management activities under the DWS brand as well as an investment banking unit. De Sanctis oversees considerably more than 100 billion euros ($113 billion) in client assets.
