Deutsche AWM lures team head from Citi

Sep 22, 2015

A former team head for the Singapore market at Citi Private Bank has moved to a similar role as a managing director at the German firm.

Deutsche Asset & Wealth Management has hired Savita Bedi as a Singapore-based managing director covering Southeast Asian clients.

She previously spent 13-and-a-half years at Citi Private Bank, most recently as team head and director for the Singapore market, according to her LinkedIn page.

Deutsche confirmed that Bedi joined last month, but declined to comment further. Citi declined to comment on her departure.

The appointment comes as the German group is looking to expand its traditional focus in Asia beyond ultra-high-net-worth individuals (UHNWIs) and institutional investors to high-net-worth clients, as reported.

Deutsche AWM’s area of focus in Asia has until now been on UHNWIs (those with at least $30 million in investible assets), but from next year it will also target the high-net-worth segment ($5 million to $25 million in investible assets).

At Citi, Bedi was responsible for business development and account management of UHNWIs and for private bank relationships in Singapore and Malaysia. She also handled Thailand and the Middle East, according to her LinkedIn page.

Before joining Citi, she had been head of institutional sales at Prudential ICICI Asset Management in India for three years, and prior to was a relationship manager at ANZ Grindlays Bank, also in India.