Designates Raffael Gasser as the Lead for Wealth Management and Private Banking in Germany within our organization
Deutsche Bank has announced the appointment of Raffael Gasser as the new Head of Wealth Management & Private Banking in Germany, effective November 1, 2024. Gasser, who currently leads the Northern European business with wealthy clients at UBS in Zurich, will join Deutsche Bank and relocate to Frankfurt with his family.
Gasser brings a wealth of experience to his new role, having spent over two decades in the financial sector. He began his career with Goldman Sachs in 2002 and later moved to McKinsey & Company from 2003 to 2009. Prior to UBS, Gasser spent 14 years at Credit Suisse in various senior positions in Wealth Management, including CEO of Credit Suisse in Luxembourg, responsible for various European branches and before that for the German market. He was also a member of the Management Committee of Global Wealth Management and Head of Private Banking International at Credit Suisse.
In his new position, Gasser will oversee the broad retail business of the bank and Postbank, and he will work closely with Dominik Hennen, Head of Personal Banking. Hennen will temporarily head private banking until Gasser joins. Stefanie Rühl-Hoffmann has interim responsibility for Wealth Management in Germany and is responsible for the team of ultra-high-net-worth-individuals (UHNWIs).
Gasser sees potential in the comprehensive offering of the Global Hausbank and in connecting the Private Bank, Corporate Bank, and Investment Bank. He believes in expanding the bank's leading position through personal advice, digital channels, and data analysis, particularly focusing on family entrepreneurs.
Claudio de Sanctis, the Management Board Member responsible for the Private Bank, is looking forward to driving the bank's strategy with Gasser. Gasser will also become a member of the Private Bank Executive Council. Before joining Deutsche Bank, Gasser was a member of the bank's competitor, UBS, where he was responsible for managing wealth for private clients in Northern Europe.
Deutsche Bank serves affluent and wealthy clients up to ultra-high-net-worth in its home market, and Gasser's appointment is expected to strengthen its position in the German market. The bank is optimistic about the future under Gasser's leadership and looks forward to the positive impact he will have on the business.
Gasser's extensive background in wealth management spans over two decades, having worked at Goldman Sachs, McKinsey & Company, Credit Suisse, and most recently, UBS in Zurich. In his new role at Deutsche Bank, he will oversee the bank's private banking operations, working alongside Dominik Hennen in the retail business and focusing on expanding the bank's leading position through personal advice, digital channels, and data analysis, particularly for family entrepreneurs in the finance sector.
