Deutsche Bank will be serving wealthy private clients in Switzerland completely under its own brand
Following the opening of a representative office in St. Moritz in January, Deutsche Bank will be expanding its Private Wealth Management operations in Switzerland further. From June 2009 on, the bank will be serving its wealthy Swiss private clients under the Deutsche Bank brand and will fully merge the Zurich-based private bank Rüd, Blass & Cie. AG Bankgeschäft, a 100% subsidiary of Deutsche Bank (Schweiz) AG, into the parent company.
For the coverage of the Swiss-based clients of Rüd, Blass & Cie. AG Bankgeschäft, a new Private Wealth Management Switzerland unit will be created in Deutsche Bank (PWM Switzerland). The name “Rüd, Blass” will be retained as a brand name in advisory services as well as in the well-established “Rüd Blass Immobilienfonds-Index” (“Rüd Blass Real Estate Fund Index”) and the new real estate fund “Rüd Blass Immobilien Schweiz Dachfonds” (“Rüd Blass Real Estate Switzerland Fund of Funds”). Clients’ account numbers and contacts will remain the same.
Dr. Hans-Jürgen Koch, CEO of Deutsche Bank (Schweiz) AG, said: “Deutsche Bank has been serving wealthy Swiss private clients for more than 28 years. Today, we are one of the largest foreign banks in Switzerland and intend to continue to grow. For this reason, we are now offering our modern asset management services, which are consistently structured internationally, to clients of Rüd, Blass & Cie AG Bankgeschäft. They will also profit from Deutsche Bank’s global presence in all of the important capital markets. Nonetheless, PWM Switzerland remains firmly anchored in the successful tradition of the Swiss private banking business. For our discerning Swiss private clients, this means they will receive the best of both worlds.”
PWM Switzerland will retain the traditional focus of Rüd, Blass & Cie AG Bank-geschäft on the Swiss domestic business, while expanding on the private bank’s strengths. These include its individualized asset management in Swiss equities and CHF-denominated debentures as well as the specialized expertise in indirect Swiss real estate investments. The mortgage business will be added towards the middle of the year.
Furthermore, Swiss investment expertise will be taken into account to a greater degree at Deutsche Bank. Alan Zlatar, Chief Investment Officer of Rüd, Blass & Cie AG Bankgeschäft, will join Deutsche Bank’s Global Investment Committee and in this role will contribute to formulating the authoritative investment strategy recommendation for all of Deutsche Bank’s private clients.
Around the world, Deutsche Bank serves more than 92,000 Private Wealth Management clients at 90 locations in 31 countries and is one of the world’s largest asset managers with client assets under management of € 164 billion.
In addition to Private Wealth Management, Deutsche Bank in Switzerland offers the entire range of services of an international corporate client and investment bank. A branch of Deutsche Bank AG in Zurich manages Swiss corporate and institutional clients. Deutsche Asset Management Schweiz is responsible for institutional asset management, and DWS Schweiz GmbH for investment fund business. Both companies are also based in Zurich.
Further information may be obtained from:
Deutsche Bank AG
Dr. Klaus Winker
Phone: +49 69 910 32249
Deutsche Bank (Schweiz) AG
Phone: +41 44 224 7425
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,456 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
About Deutsche Bank (Schweiz) AG
Deutsche Bank (Schweiz) AG, with offices in Geneva, Zurich, Lugano and St. Moritz, is a subsidiary of Deutsche Bank AG, specializing in providing portfolio and asset management as well as wealth management services for demanding international clients.