Five months into the job, Deutsche Bank Wealth Management chief executive Michael Morley has poached former Coutts colleague Matthew Spencer for a senior role.
Spencer, who spent six years at Coutts, latterly as head of business development, will join Deutsche in January as a managing director and UK head of intermediaries and multi-family offices (MFOs).
Previously, he was head of intermediaries management between at Credit Suisse in the UK and in Zurich and head of private client & charities business development at Jupiter.
Spencer said: 'The business has a world class investment proposition and access to one of the world’s leading global investment banks, so I am looking forward to helping it to build its credentials with intermediaries and MFOs.'
Morley (pictured) added: 'We see huge potential to build out what Deutsche Bank Wealth Management offers to UK clients, being a uniquely European and truly global institution that is able to provide seamless expert advice to our clients, their families and their businesses, as well as to innovate with bespoke solutions and to connect them to one of the world’s leading capital markets institutions.'
Morley took over as Deutsche Wealth CEO in July, having been CEO of Coutts between 2009 and 2016. He also spent seven years as chairman of Royal Bank of Scotland International.