UBS - Deutsche Bank hires five wealth managers from UBS to expand private banking

franz12/iStock Editorial via Getty ImagesDeutsche Bank ([[DB]] -3.5%)hires a team of five senior wealth managers from UBS ([[UBS]] -1.6%), as it seeks to expand its Swiss-based private banking business for wealthy British and Northern European customers, Reuters reports.Raoul Zehnder will lead the team, which serves ultra-wealthy customers and family offices that manage their wealth, according to statement made by Deutsche Bank.Zehnder will start his role on Oct. 1, joined by senior relationship managers Patrik Minuscoli and Michael von Mecklenburg, senior investment manager Philipp Portenier, and account manager Vincent Weisse.Previously, (June 21) Deutsche Bank forms JV with Fiserv for payment acceptance in Germany.

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Deutsche Bank hires five wealth managers from UBS to expand private banking