Deutsche Bank Private Wealth Management appointed George Zahringer III, a former Bear Stearns senior managing director, to the position of managing director and client advisor in the firm’s US headquarters on Wall Street in New York.

Mr Zahringer is the latest private client advisor to leave Bear Stearns following its acquisition by rival firm JP Morgan at the beginning of the year.

Deutsche Bank Alex Brown – the private client services division of Deutsche Bank Securities in the US – confirmed it had hired Mr Zahringer, who has over 30 years of financial services experience.

He will report to Haig Ariyan, a managing director and New York Regional Executive.

Thomas Bowers, is head of the US Private Wealth Management Division for Deutsche Bank, which has branch offices in 14 cities across the US.