Deutsche Bank aims for growth in Asia-Pacific markets

Deutsche Bank is banking on the Asia-Pacific region to drive significant growth in the coming years, with a target to contribute at least 15 per cent to its global revenue. The bank’s CEO, Sewing, emphasized the region’s importance, highlighting the growth potential in areas such as corporate banking, investment advice, and private wealth management. Deutsche Bank operates in 15 markets in Asia-Pacific, including Hong Kong and mainland China, all of which are said to be profitable.

In the last 18 months, Deutsche Bank has been heavily investing in the region, particularly in its investment advisory, wealth management, and private bank divisions. Despite the trend of job cuts in the industry, the bank has seen a significant increase in its headcount in Asia-Pacific, which currently stands at 27,095. Recent senior hires in the investment banking sector, along with a focus on private wealth management, reflect the bank’s strategy to diversify its services and capture a larger market share.

Sewing pointed out that Deutsche Bank is positioning itself as “the European alternative” for Asian clients who seek options beyond local and US banks. The bank is committed to maintaining a balanced business mix and continues to expand its presence in the region. With a focus on strategic advice and wealth management services, Deutsche Bank aims to leverage the growth opportunities in Asia-Pacific to drive core growth and solidify its position in the market.