The German entity strengthens its offices in Barcelona and Aragon. He has 28 banker signings in 2022.
Deutsche Bank has fully entered the transfer war for private banking in Spain. The German bank continues to fatten up its private banking unit in Spain by hiring bankers from the competition, one of its priority objectives for the year.
In its latest move, Deutsche is still fishing in a troubled river and has just incorporated two private bankers from UBS and another private banker and a manager from BNP Paribas.
On the one hand, the entity led by Íñigo Martos has hired José Antonio Altabás and Alfredo López from UBS. Both were part of the Swiss bank’s Aragón office, which has already replenished its losses with the additions of Christian Izquierdo, who will be the new director of the branch, and David Gallego, as client advisor. Both come from Singular Bank. The idea is that both maintain UBS activity in the community until the sale to Singular is closed, when Gallego will lead Singular’s presence in Aragon.
The other market that Deutsche is reinforcing is that of Barcelona, from where it moves the business of Catalonia, Levante and the Balearic Islands.
The German bank has just signed Inés Par, as a private banker, at BNP Paribas, who thus joins Andrés Peña, senior banker and former head of the BNP Paribas business in Catalonia, who is waiting to join Deutsche Bank, as soon as your non-compete agreement ends.
With the signing of these two bankers, Deutsche breaks BNP’s presence in Barcelona, one of Banca March’s incentives to take over the private banking business of the French entity in Spain.
Both Par and Peña, who before BNP had worked at Credit Suisse, will report to Antonio Roselló, the new head of Deutsche in Catalonia, who Martos signed a few months ago precisely at Credit Suisse.
In addition, as Bloomberg announced yesterday, Detusche has also signed Gonzalo Garnelo, who was a manager at BNP since the beginning of this year, after eight years at UBS, to join his team. Antonio Salgado, head of the French bank’s high net worth business in Spain, signed him shortly before announcing the sale of the business to the Marches.
The arrival of Íñigo Martos as the new head of Deutsche’s high net worth business in Spain and as CEO of the bank (a position he will assume in just a few days) has unleashed a flood of banker hires.
Since his signing was announced, Martos has incorporated 28 private bankers, taking advantage of the open war between UBS and Credit Suisse, once the sale of the former to Singular Bank was confirmed, and the moment of BNP in Spain with the acquisition of its Spanish subsidiary of private banking by Banca March.
Industry sources assure that they will not be the last additions to Deutsche. Or at least that is the intention of Martos, who continues to meet with bankers to sign them for his team.
The manager, who until the end of last year was responsible for private banking at Credit Suisse in Spain, has the mandate to strengthen the business of large fortunes in the country and make it a priority. The German entity wants this division, in which it manages more than 10,000 million euros, to be one of its key drivers of growth in the Spanish market.
