Deutsche Bank appointed Paul Sayers as the Head of International Private Bank (IPB) Africa, along with his team of three Senior Relationship and Investment Managers from HSBC.
With over 19 years of wealth management experience, and various senior positions focusing on Ultra High Net Worth (UHNW) African clients, particularly from South Africa, Paul will join Deutsche Bank on December 1 reporting to Loïc Voide, Co-CEO and Head of IPB for the Middle East and Africa (MEA).
Joining Paul will be a Zurich-based team who have been working together very successfully for a number of years – Relationship Managers Daniel Crafford and Kevin Boux, and Investment Manager David Dizerens.
Commenting on the hires, Loïc Voide, Co-CEO and Head of IPB MEA, said: “These appointments will enable us to further develop our proven capabilities to serve wealthy clients in the region. Leveraging on our position as a strong European Bank with global reach, Paul and his team will deepen our coverage of clients domiciled on the African continent where we are a preeminent private bank for entrepreneurs and family offices.”
Marco Pagliara, Head of IPB for Europe, Middle East and Africa (EMEA) said: “We have established a very strong market position in Africa and continue to see attractive growth opportunities for our clients and prospects. The reinforcement of the IPB Africa team with new relationship managers meets a growing client need that is well served by the Deutsche Bank Wealth Management platform.”
The memo also mentioned that the Middle East and Africa region offers significant growth opportunity for the bank’s IPB EMEA business, and it is well positioned to leverage its well-established business in Africa with a decades-old onsite presence in Egypt, Nigeria and South Africa. The ability to leverage the bank’s full platform, particularly it lending capabilities, combined with its entrepreneurial culture and cross-divisional collaboration is an important strength in a region where Deutsche Bank’s key competitors are not very present locally.