Deutsche Bank’s international private bank (IPB) has hired Adam Russ out of Goldman Sachs’ private wealth business.

Mr Russ becomes DB IPB’s co-head of lending EMEA, building its offering for family entrepreneurs who need a “one-stop solution for their private and company needs both on the asset and liability side”, the bank said.

Mr Russ joins in June from Goldman Sachs, where he was responsible for lending in EMEA and Latin America since 2014. He previously worked at Barclays Wealth from 2007.

He will be a managing director based in London, reporting to Alessandro Caironi, IPB head of lending, advisory & sales and will work with Marco Pagliara, the head of IPB for EMEA.

Adam Russ

Mr Caironi said in a statement the bank would continue to hire senior bankers as it looked to “build out [its] position as a leading global house for family entrepreneurs”.

“Lending is one of our core strengths. We have led the market over the past decade in strategic services for entrepreneurs and in meeting their financing requirements even during stressed market conditions such as during the pandemic,” he said.

Deutsche Bank created its IPB in June 2020 combining its wealth management and private & commercial business international units into a business that serves more than 3 million private, wealth and commercial clients.

The division has around €250 billion of assets under management and annual revenue of approximately €3 billion.