Deutsche names new Boston wealth director

FWR Staff

20 February 2005

Spoor to develop new relationships and create "tailored solutions". Deutsche Bank's Private Wealth Management group has made Todd Spoor a director of its Boston office. As a wealth advisor, he'll develop new relationships and create "tailored wealth solutions" for high-net-worth families and individuals, according to Deutsche.

Spoor reports to Michael Duca, head of Deutsche's private wealth practice in Boston. "Todd has an impressive track record of attracting and working successfully with entrepreneurs, senior corporate executives and other high-net-worth clients," says Duca. "We are very pleased to welcome him to our Boston team, and are confident that his extensive financial background will benefit families that seek a comprehensive and fully customized approach to wealth management."

Duca adds that Spoor was attracted to Deutsche for its "capacity to provide clients access to sophisticated credit and capital markets solutions, in addition to a broad array of global investment strategies, structured transactions that can help manage risk, wealth transfer planning and family advisory services."

A 20-year veteran of the banking business, Spoor comes to Deutsche from JPMorgan Chase in Boston, where he focused on the needs of high-net-worth clients. He also worked at the Bank of New England, First National Bank of Boston and South Shore Bank.

Deutsche Bank says it's restructuring its wealth business in a bid to combine high-touch services with best-of-breed investment offerings. Early last summer it sold the Boston office of its Scudder Private Investment Counsel unit, an asset management firm that caters to high-net-worth clients, to Eaton Vance. In November 2004 it sold the balance of Scudder PIC to Legg Mason - a move Legg Mason says fits with its avowedly "investment-centric" approach to wealth management.

But even as Deutsche hives off parts of its wealth business that stress in-house investments, it's picking up more holistic practices. Late last year it bought Wilhelm von Finck, a German multi-family office in suburban Munich. -FWR