Deutsche Bank Raids Rival Talent to Target Wealthy Europeans
- German lender hires about a dozen bankers from Credit Suisse
- Deutsche Bank said to offer some bankers up to 40% more pay
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Deutsche Bank AG hired a team of around a dozen private bankers from Credit Suisse Group AG as Germany’s largest lender shifts resources to wealth management while slashing thousands of trading jobs worldwide.
The hire from one of Deutsche Bank’s key rivals comes as numerous lenders in Europe tilt toward the more stable revenues produced from managing money for the wealthy. The bankers, who are largely based in Italy, resigned from Credit Suisse on Monday, according to people familiar with the matter.