Deutsche Bank Hires Five People From UBS's Wealth Team

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By Giulia Petroni

Deutsche Bank AG said Tuesday that it has hired Swiss banker Raoul Zehnder and his team of wealth managers from UBS Group AG.

The German bank said Mr. Zehnder will manage the ultra-high net worth and global family office clients, with a particular focus on U.K. residents non-domiciled and Northern Europe. He will assume the role on Oct. 1.

“Mr. Zehnder has over 18 years of wealth management experience and is considered to be one of the most well-connected bankers in his target markets,” according to Deutsche Bank.

The bank has also hired four senior relationship managers from UBS, being Patrik Minuscoli, Michael von Mecklenburg, Philipp Portenier and Vincent Weisse.

Write to Giulia Petroni at giulia.petroni@wsj.com

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