Deutsche Bank

GREAT PEOPLE AND FULL SUITE OF SOLUTIONS

Amrit Singh, Head of Global South Asia Wealth Management, Deutsche Bank, sets out his firm’s achievements to WealthBriefing Group Editor Tom Burroughes.

Amrit Singh

Head of Global South Asia Wealth Management, Deutsche Bank

Please explain what you think makes your firm successful in its chosen field.

Our success belongs to our people. Without their dedication and commitment, we would not have achieved what we have today, and I would like to congratulate all of them for winning this award together as a team.

Deutsche Bank IPB’s investment solutions offer a comprehensive suite of options to clients, especially differentiated by a market leading offering in capital markets. This opens a full suite of potential investment and financing solutions to clients based on their specific needs, catering across the spectrum from smaller private clients to complex ultra-high net worth clients and family offices.

Reflecting a trend of more wealth management-investment bank synergy in the private wealth management industry in Asia, we began our One Bank Solutions function in South Asia eight years ago, with the aim of delivering integrated wealth management and commercial/investment banking to large families and their companies.

In addition, our clients really appreciate our ability to provide offshore financing with onshore Indian assets as collateral while also providing advisory services in India with our physical presence in the country. Some of our competitors have limited onshore presence in India, and even the ones that have some physical presence in India, do not have the size of the balance sheet or the flexibility on lending that we can provide.

What have been the main obstacles you had to overcome and how did you do so to reach this level?

There have been many obstacles across the board - very challenging financial markets, a realignment of entire supply chains for clients due to political and other issues, the continuing impact of selective COVID shutdowns in some locations etc., our strategy is to focus on how we can continue to add value to our target clients.

It is with this singular focus on solving for clients’ needs that we have managed to deliver the sort of business growth and results.

What are the main contributions do you think you bring to the wealth management industry?

In our opinion, Deutsche Bank’s combination of intellectual capital, creativity and entrepreneurial flair has always been what sets us apart from the competition when it comes to providing solutions for our NRI and NRP clients. These qualities will always be relevant.

Through our One Bank collaborative approach, we look at our client’s portfolio and try to explain to them – as an entrepreneur – how their private wealth, private investments, real estate, and company correlate to each other and to the market, and we try to deploy those investments in a way that balances out volatility across their portfolio. What position would you like your firm to hold in its sector in five years’ time?

Diversification today is crucial: in a world that is polarized between East and West, there is interest in emerging markets to receive support from non-US banks and this is an opportunity we are seizing.

In the next three to five years, we believe India and Southeast Asia will represent the most important growth opportunity. We have the right size to bring for personal wealth and solve for corporate needs together: in our opinion this is also something that also sets us apart from most of our competitors.

Can you sum up the philosophy that sums up your firm/you the best?

We strive to invest in people, technology, advisory and investment solutions. They underscore our ambition to grow our client franchise in one of the world’s fastest growing regions where wealth creation and entrepreneurial activity are enjoying strong tailwinds.

We believe the Global South Asia business at Deutsche Bank has established itself as one of the market leaders in serving NRI clients, and other clients from the sub-continent through a multi-pronged strategy focusing on the right client segment, a comprehensive investment and financing product suite, coupled with sensible risk management.

PRIVATE BANK SERVICING NRI/NRP CLIENTS

WINNER Deutsche Bank