Michael Morley will join the firm in July as part of a recruitment drive targeting the hire of around 100 front-office staff this year.
Morley was chief executive of Coutts, the UK’s largest private bank, from 2009 to May 2016. He also spent seven years as chairman of the Board of Royal Bank of Scotland International before stepping down in January this year.
Prior to Coutts, he spent eight years with Merrill Lynch as managing director for UK private banking and director of private wealth services for Europe and the Middle East.
Morley is also a member of the board of the British Bankers Association and chair of its Private Banking and Wealth Management Advisory Panel, and a board member of the Personal Investment Management and Financial Advice Association.
Fabrizio Campelli, global head of Deutsche Bank Wealth Management, said: “The UK is at the heart of the significant investments we are making in serving Deutsche Bank Wealth Management clients and Michael’s unparalleled experience as an executive and as a standard-bearer in the industry here make him the ideal leader for this new phase in our growth strategy. This is just the start.”
Morley will report to Peter Hinder, head of Deutsche Bank Wealth Management Europe, Middle East and Africa.
Hinder added: “Michael’s appointment is extremely timely, given the changes for our clients implied by Brexit and the need to maintain and build bridges to Europe and the world.”
