The bank says growth opportunities in the onshore Chinese market are exponential.

Deutsche Bank Wealth Management has appointed Jeffrey Yen Chieh Peng as its head of China onshore wealth.

He will be based in Shanghai and oversee the onshore China wealth management business by managing and strengthening resources, the platform and operations. As well as developing and carrying out expansion strategies in the local market, he will advise on Greater China business for the North Asia region.

Jeffrey Yen Chieh Peng reports to Kanas Chan (organisation manager), head of North Asia Wealth Management, Feng Gao, chairman of Deutsche Bank (China), China chief country officer of Deutsche Bank and Rose Zhu (matrix manager), president of Deutsche Bank (China) Co.

Prior to this, he was MD and head of strategic alliance and independent asset management excellence centre for Greater China, North Asia, at Bank of Singapore. Previously, he was with UBS for 11 years last as executive director and head of wealth management investment products and services in China.

“We see opportunities in onshore China markets as the high net worth client segment grows exponentially, while the environment grows increasingly business-friendly and promising. This hire is to support our Global China Strategy, investing in and strengthening our onshore and offshore China platform,” Kanas Chan, head of North Asia Wealth Management, said.