“If you look at the next 24 months in terms of strategic growth, the clear focus for the international private bank is Southeast Asia and the Middle East,” the former UBS Group AG and Credit Suisse Group AG executive said in an interview in Dubai. These regions “are enjoying strong tailwinds for wealth creation due to a combination of factors including economic reforms, trade flows, and geopolitical considerations.”
Claudio de Sanctis is targeting markets far from home as Deutsche Bank AG seeks to become Europe’s go-to wealth manager.
The head of international private banking at the German lender plans to “significantly invest” in the Middle East and Southeast Asia to tap an expansion of wealth and flow of funds to the regions. De Sanctis singled out markets such as Saudi Arabia and Indonesia – where resource-rich governments are spending heavily – as key markets for expansion.
