competitive edge over rivals weakened by the credit crisis, has
announced plans to create about 2,500 new advisory positions at its
Private and Business Clients division in Germany and other European
core markets over the next four years.
It will also open about 400 branches across Europe by 2012, of
which 150 will be in Germany.
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Setting out its ambitions, Deutsche, one of the few major banks
which has not been deeply embroiled in the credit crisis, declared
the aim is to strengthen its leadership in wealth and related
business banking in its German home market and also to “enhance its
strong position in the rest of Europe.”
Deutsche’s Private and Business Clients division typically deals
with wealthier clients, often owners of small- and medium-sized
firms, and where personal and company needs are often
inter-related. Professionals like lawyers and dentists are typical
target clients.
Of the division’s current client total of about 14 million, around
one million are corporate.
In Europe, Deutsche is looking to attract new customers with the
aim of building a total of 18 million clients by 2012. The division
is also aiming for a cost/income ratio in line with European
standards. Moreover, it intends to increase income before taxes
from €1.1 billion ($1.49 billion) in 2007 to €2 billion in
2012.
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By GlobalDataDeutsche has a separate Private Wealth Management operation,
dealing with ultra-wealthy clients.
Rainer Neske, head of Private & Business Clients, declared: “We
will strengthen our market leadership in our German home market,
strongly expand our European business and invest more in our
advisory activities.
“With this programme, we are creating the basis for sustainable and
profitable growth.
“We want to be the best bank with the best product and service
offering at each of our locations.”
The initiative will also be extended in Asia. With planned
investments in new employees and locations, the bank’s intention is
to bundle its strengths and bring its products and services “even
closer to its clients.”
