(Corrects name of industry publication in final paragraph)
HONG KONG, Oct 11 (Reuters) - Deutsche Bank AG’s Asia Pacific wealth management business head Ravi Raju is leaving the German firm to join UBS Group AG, a source with direct knowledge of the development told Reuters on Tuesday.
It was not immediately clear what would be Raju’s new role at the Swiss private banking major, where he is expected to start in a few months, the source said, declining to be named as the information is not public yet.
Deutsche Bank and UBS spokeswomen in Asia and Raju declined to comment when contacted by Reuters.
Hong Kong-based Raju played a key role in building Deutsche Bank’s wealth business in the region, which was ranked eighth by industry publication Asian Private Banker in its 2015 survey, overseeing more than 700 employees in 15 locations in Asia-Pacific. (Reporting by Sumeet Chatterjee, Anshuman Daga and Saeed Azhar; Editing by Denny Thomas and Christian Schmollinger)