Deutsche Bank Private Bank

Continuing our commitment to grow our Middle East business, we are pleased to welcome Fayez El Hajj, who joins us in Dubai International Finance Centre (DIFC) this week. As one of the most respected private bankers in the Middle East region, Fayez brings more than 30 years of experience to Deutsche Bank, and an extensive network of ultra-high net worth clients. Fayez joins from UBS/Credit Suisse, where he held various senior roles over 17 years. Earlier in his career, he served Byblos Bank Lebanon and other Lebanese financial institutions after beginning his banking career in 1986 with Société Financière du Liban sal, Beirut. Our Head of Middle East Saad Osseiran said: “Fayez shares our commitment to service excellence and creating lasting client success wherever they are in the world. I look forward to welcoming him to our Middle East leadership team, where I’m confident he will make an excellent contribution.” Also joining us is Samer Feghali, Director, Emilie Zein, Vice President, and Ziad Moubarak, Investment Manager, Vice President. Welcome to #teamDB! #privatebanking #wealthmanagement

Stormy weather and busy waterways made the New York Sail Grand Prix hugely challenging last weekend. But it was a valuable learning opportunity for the Germany SailGP Team against the spectacular backdrop of Lower Manhattan. "There are so many ferries passing here that cause great waves that you have to be incredibly careful," said team strategist Sophie Steinlein. Rough weather also led to the final fleet race on Saturday being cancelled and an earlier start to racing on Sunday. Germany placed ninth overall, but driver Erik Heil said he was happy with the way the crew pulled together, commenting: "We're happy, and it was good that we drove again under such conditions to improve ourselves." The team also took the opportunity to celebrate LGBT Pride Month, with the Deutsche Bank Pride logo on the main sail. Next stop, San Francisco! As proud founding partner of the Germany SailGP Team, we’re rethinking performance sustainably. Learn more here: https://lnkd.in/eR3QqqZA SailGP #PoweredByNature #SailGP #RaceForTheFuture #WealthManagement #DBxGermanySailGP #NewYorkSGP #SanFranciscoSGP #RethinkingPerformanceSustainably #Pride (When investing, your capital may be at risk)

In this week’s CIO Weekly Investment Outlook, the Private Bank’s Chief Investment Officer for Europe, Middle East and Africa, Dr. Dirk Steffen, took a historical view to evaluate this year’s surge, and recent volatility, in megacap technology stocks. “We have to have that discussion”, Dirk said. “But we don’t think that we are already in bubble territory.” Politics entered the conversation, as investors turn to focus on elections in France and the U.K. and consider the implications. In the week ahead, Dirk noted that markets will also be focused on U.S. jobs data on Friday for a view of the state of the economy, and also for the potential impact on Federal Reserve interest-rate policy – particularly after last week’s softening inflation data. Download and subscribe from Apple Podcasts and Spotify or listen here now: https://lnkd.in/emvemAau (When investing, your capital may be at risk) #privatebanking #wealthmanagement #CIOWeeklyInvestmentOutlook

Sharing investment market insight, our global Chief Investment Officer Christian Nolting spoke to CNBC Asia in #Singapore. Discussing equity markets, Nolting said: “We’ve seen market concentration in the last few weeks. But we like a barbell strategy, where you add small caps with large caps.” “We barbell fixed income too, either side of the curve. The short end is likely to come down a bit while the long end is quite stable. We want investment grade first, then we will look at high yield when growth comes back,” he said. Watch the interview: http://deu.ba/60414A2w7 (If invested, your capital may be at risk) #NoltingViews #CIOinsight #privatebanking #wealthmanagement

Speaking on Bloomberg TV in Singapore, our Americas CIO Deepak Puri, CFA said the Japanese Yen’s decline may be less a story about Japan and more a story about the U.S dollar strength. “We are living in a rate driven world, and that’s my concern looking at the world from a dollar lens,” he added. Discussing BOJ policy, Puri said, “We don’t expect any intervention any time soon, and it seems that 164 could be that technical break.” Commenting on Japanese equities, Puri added that the Nikkei has had quite a strong run-up in last couple of years, and recent moves are likely to be tactical. “We are still slightly overweight on our Japanese call, versus our neutral allocation,” he added. Watch the interview here: http://deu.ba/60454A2eN (If invested, your capital may be at risk) #CIOinsight #wealthmanagement #privatebanking

The Private Bank's global CIO, Christian Nolting, was recently on Bloomberg TV to review the state of markets as the first half draws to a close — and to consider the outlook for the rest of the year and beyond. "I think markets are a bit priced to perfection… If there is some disappointment in earnings, there could be a consolidation", Christian said, and noted that that could be a healthy thing. He and his Private Bank colleagues expect stocks to grind higher over the next 12 months, with a target of 5600 for the S&P 500 by mid-2025. And while investors digest potential political risks from recent and impending elections, Christian said that none so far suggest it is time for major portfolio shifts. "You should not give up your traditional strategy", Christian said. For a complete view of the Private Bank's outlook for the 2nd half of 2024, read the new issue of Perspectives, our quarterly magazine: https://lnkd.in/eJWTSm8R #privatebanking #wealthmanagement #NoltingView Deutsche Bank Private Bank https://lnkd.in/eSm_CjPq

In this week’s CIO Weekly Investment Outlook podcast, titled ‘FX in the shadow of rates’, the Private Bank’s Chief Investment Officer in APAC, Stefanie Holtze-Jen, CFDS, puts inflation data and FX under the lens, and discusses recent key moves in JPY, AUD, CNY, EUR, and CHF. Stefanie says the Swiss Franc (CHF) strengthened as a safe haven ahead of France’s election this weekend, giving the Swiss Central Bank reason for a surprise rate cut. In the Asia Pacific region, Stefanie says this week’s inflation data could trigger the Bank of Japan to hike rates in July, which could put a lid on depreciation of the Yen which is approaching 159JPY/USD. Stefanie explains the gradual weakening of China’s Renminbi (RMB), pointing to pressure from Japan’s export orientated Yen, and the stronger US dollar which is backed by rates higher for longer. In Australia, while the RBA held rates steady in the latest meeting, watch for new inflation data this week which could suggest another hike may be on the way. Coming up in the US, personal spending, GDP, and PCE data will give a better sense of the US macro backdrop and rates outlook. Tune in and listen to Stefanie’s key thoughts for the week ahead. Download and subscribe from Apple Podcasts and Spotify or listen here now: https://lnkd.in/emvemAau (When investing, your capital may be at risk) #privatebanking #wealthmanagement #CIOview #CIOWeeklyInvestmentOutlook #emergingmarkets

SailGP is kicking off summer in NYC with the 2024 New York Sail Grand Prix! As proud founding partner of the Germany SailGP Team, we were delighted to welcome crew members, including driver Erik Heil, to our US HQ on Columbus Circle to meet with Deutsche Bank colleagues and rally supporters ahead of the competition this weekend. ‘Brunhilde’, the team’s F50 racing catamaran, has also arrived in the city and had a special update in celebration of Pride Month – a sign of our support proudly displayed on the wing sail. Over two days of action-packed racing, New York Harbour will play host to one of the most dramatic showdowns of the season before the San Francisco final next month. It’s certain to be an incredible spectacle for everyone watching from Governors Island and worldwide online. Viel Erfolg! See you on the water! For ways to watch live and follow all the action from the Germany SailGP Team, visit: https://lnkd.in/efEEHW58 SailGP #PoweredByNature #SailGP #WealthManagement #DBxGermanySailGP #RethinkingPerformanceSustainably #RaceForTheFuture #NewYorkSGP #PrideMonth (When investing, your capital may be at risk)

Yesterday the Financial Times reported on the transformation progress in our Private Bank. Intensely managing costs to become more profitable is an important part of the story. Deutsche’s private bank cuts spending on external consultants by 70% The entire article can be read here (behind paywall) http://deu.ba/60474AWdT #privatebanking #wealthmanagement

WATCH 🎥: What drives an elite athlete to succeed? And where can they have the greatest impact on team performance? For Dan Morris, Grinder #1 of the Germany SailGP Team, this link is at its strongest when out on the water aboard the team’s F50 racing catamaran. “The better I sail in my role, the better the team does. The better the team does, the better I get.” Dan and the Germany SailGP Team show how an elite team comes together under pressure, supporting each other’s strengths in the pursuit of sustainable performance. Deutsche Bank is proud to support the Germany SailGP Team because we share their values on and off the water. You can watch Dan’s full video ahead of the team’s next race in New York this weekend, here: https://lnkd.in/eSAmnmje SailGP #PoweredByNature #SailGP #WealthManagement #DBxGermanySailGP #RethinkingPerformanceSustainably #RaceForTheFuture #NewYorkSGP (When investing, your capital may be at risk)