Deutsche Bank expands Dubai private banking team with Standard Chartered hires

Deutsche Bank brings in Standard Chartered bankers to boost Dubai wealth push: Deutsche Bank has hired Managing Director Eleftherios Sachanidis (LinkedIn) and three other private bankers from Standard Chartered to expand Dubai operations, Bloomberg reports, citing an internal memo it has seen. Sachanidis will report to Mubashar Ayoob (LinkedIn), Deutsche Bank’s head of the Gulf, with the team tasked to expand client coverage and strengthen the bank’s wealth management capabilities across emerging markets.

REMEMBER- The hires are the latest piece of a broader Gulf build-out. Deutsche Bank is taking on additional office space in the DIFC as part of the center’s expansion, and has signed an agreement with Dubai's Economy and Tourism Department aimed at drawing more family offices and ultra-high-net-worth individuals to the emirate. That's on top of a regional headquarters license in Saudi Arabia secured earlier this month — putting it alongside JPMorgan, Goldman Sachs, and Morgan Stanley in Riyadh's RHQ club — plus a newly announced research hub in Doha.