Deutsche Bank has appointed Claudio de Sanctis as Global Head of Deutsche Bank Wealth Management, succeeding Fabrizio Campelli who joins the group Management Board as Chief Transformation Officer.
De Sanctis, who assumes the role with immediate effect, was previously Head of Wealth Management in Europe, which serves clients in around 30 countries including Deutsche Bank’s home market of Germany. He was also Chief Country Officer of Switzerland, a role he will retain.
He joined Deutsche Bank Wealth Management in December 2018 from Credit Suisse, where he spent five years, initially as Market Area Head Southeast Asia for Private Banking, Asia Pacific, and most recently as Head of Private Banking, Europe.
Karl von Rohr, Deutsche Bank President and Member of the Management Board responsible for the Private Bank, which includes Deutsche Bank Wealth Management, said: “Deutsche Bank Wealth Management is one of the key pillars of Deutsche Bank’s strategy to increase its share of revenues from stable sources.”
He added: “Claudio is a consummate wealth manager and decisive leader who has already made a significant positive impact in Europe over the past year. He has the experience and capabilities to make the most of our investment in growing this high-potential client business.”
With assets under management of approximately 215 billion euros (as at September 30, 2019), Deutsche Bank Wealth Management is one of the largest wealth managers worldwide. Earlier this year it embarked on a plan to hire an additional 300 client-facing employees globally by 2021 as well as investing in its existing people, systems and technology. De Sanctis united the Europe region to include Germany where Wealth Management is the market leader, hired dozens of prominent bankers, and generated an increase in net new assets excluding deposits in the past two quarters.
Fabrizio Campelli, 46, was the Global Head of Deutsche Bank Wealth Management since October 2015. He was previously Head of Strategy & Organizational Development as well as Deputy Chief Operating Officer for DB Group and a member of the Group Executive Committee of Deutsche Bank. He joined Deutsche Bank in 2004 after working at McKinsey & Company in the firm’s London and Milan offices, focusing on strategic assignments mainly for global financial institutions. Born in Italy, he holds an MBA from MIT Sloan School of Management and a Business Administration degree from Bocconi University.
Claudio de Sanctis, 46, was the Head of Deutsche Bank Wealth Management Europe, a region that serves clients in almost 30 countries including the bank’s home market of Germany, since joining the bank in December 2018. Based in Zurich, he has also been the Chief Executive Officer of Deutsche Bank (Switzerland) Ltd, since February 1, 2019. He was previously Head of Private Banking, Europe, at Credit Suisse, which he joined in 2013 as Market Area Head Southeast Asia for Private Banking, Asia Pacific. Before then, he spent seven years at UBS Wealth Management Europe, most recently as Market Head Iberia and Nordics. Earlier in his career he was Head of Key Clients Unit Europe at Private Banking in Barclays focusing on UHNW clients and also worked at Merrill Lynch Private Wealth Management EMEA. He is an Italian national.