Deutsche hires new wealth management head in Asia

Deutsche Bank has reshuffled its wealth-management heads in Singapore, following the poaching of Ravi Raju from Citigroup’s wealth-management arm.

Raju will take on the role of head of private wealth management for Asia-Pacific at Deutsche from March 8. He has assumed the responsibilities of Rico Caduff, who assumes the newly created role of chairman, private wealth management for Asia-Pacific. Raju joins Caduff on the German bank’s global private wealth management executive committee.

Kenneth Toong, formerly Deutsche’s head of private wealth management for North Asia, is now deputy head of private wealth management, Asia.

Raju was previously at Citigroup Global Wealth Management, where he was head of investments for Asia-Pacific and the Middle East, and was responsible for capital markets advisory, portfolio counselling, investment strategy, product management and treasury activities, in addition to business strategy and development. He had been with Citigroup for 16 years and held various positions across its business sectors.

Caduff has led the development of Deutsche’s private wealth management business in Asia-Pacific for the past eight years.