Deutsche poaches JP Morgan private bankers in Hong Kong

Deutsche Bank Private Wealth Management (PWM) has hired six senior private bankers from JP Morgan Private Bank in Hong Kong.

The team will start on March 12 and includes Margaret Kwong, former head of Hong Kong coverage at JP Morgan. She becomes managing director, reporting to Kenneth Toong, Hong Kong-based head of Deutsche Bank PWM for north Asia and deputy head for Asia-Pacific.

The other members of the team are Wendy Kong, managing director and relationship manager; Alice Chow, managing director and investment adviser; Wilfred Ng, director and investment adviser; Wayne Wai, director and relationship manager; and Frederick Fong, vice-president and relationship manager.

Deutsche Bank PWM recorded a 19% growth in invested assets in the Asia-Pacific region in 2007 and now manages €22 billion ($33.8 billion) on behalf of clients in nine markets.

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