Raffael Gasser has been named by Deutsche Bank to lead wealth management and private banking in Germany.

The bank provides services in this sector to clients in its home market who are wealthy, and ultra-high net worth. With effect from 1 November 2024, Gasser will take up the role and join the Private Bank Executive Council.

The member of the Deutsche Bank Management Board in charge of the private bank, Claudio de Sanctis, will be his supervisor.

Gasser worked at UBS in Zurich, where he oversaw the company's business with affluent clientele in Northern Europe. Before joining UBS, he worked for Credit Suisse for 14 years in a variety of high-level roles related to wealth management.

Previously, he served as the Head of Private Banking International, the division that catered to the needs of affluent global clients under Swiss management, and as a member of the Management Committee of Global Wealth Management.

Before that, he held the position of CEO of Credit Suisse in Luxembourg, where he oversaw the German market in addition to several other European subsidiaries.

The Swiss citizen launched his career in 2002 at Goldman Sachs, followed by a stint at McKinsey & Company from 2003 until 2009, where he worked on corporate finance and banking.

Furthermore, Gasser will be moving to Frankfurt and will collaborate closely with Dominik Hennen, head of personal banking at Deutsche Bank and Postbank, who is in charge of the company's whole retail division.

Hennen, who serves on the Private Bank Executive Council, also reports to Sanctis. Hennen will momentarily lead private banking until Gasser arrives, while Stefanie Rühl-Hoffmann, head of the team for ultra-high-net-worth individuals (UHNWIs), will take up brief oversight of wealth management in Germany.

Sanctis stated: “Throughout his career Raffael has combined business areas several times, has consistently aligned the offering to the needs of the clients and has thus enabled new business and growth. With his deep knowledge of the German market, he brings the best experience to lead our business in the home market into the next phase: As the clear market leader among affluent and wealthy clients in Germany, we now want to continue to grow through a closer integration of Private Banking and Wealth Management. I am looking forward to further driving our strategy together with Raffael.”

Gasser added: "It is a unique mandate to lead Deutsche Bank's Private Banking and Wealth Management as market leader in its home market. I am convinced that we can further expand our leading position through outstanding personal advice in combination with digital channels and data analysis. In addition, there is great potential in the comprehensive offering of the Global Hausbank and in connecting the Private Bank, Corporate Bank and Investment Bank, which is of particular interest to family entrepreneurs. I am pleased to join my new colleagues and the bank's excellent advisors and to give our best for our clients every day.”

"Deutsche Bank hires head of wealth and private banking in Germany" was originally created and published by Private Banker International, a GlobalData owned brand.

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