Deutsche Bank Private Bank

In this week’s CIO Weekly Investment Outlook, the Private Bank’s Chief Investment Officer EMEA, Dr. Dirk Steffen, says that markets are widely expecting the Federal Reserve to kick off its rate-cutting cycle this week – but the question is how big a cut it will deliver. “The market is exactly split” on whether it will be a quarter percentage point or a half percentage point, Dirk says. “So it will either way lead to market moves.” And as for the recent ups and downs in stocks more broadly, “We think volatility is here to stay”, Dirk says. He notes that investors will be paying increasing attention to the U.S. elections over the coming weeks, as well as the coming corporate earnings season. “In this environment we will see frequent ‘rotations’ back and forth”, Dirk says, as some interested market participants wait on the sidelines to buy the dips in certain sectors. Download and subscribe from Apple Podcasts and Spotify or listen here now: https://lnkd.in/emvemAau (When investing, your capital may be at risk) #CIOWeeklyInvestmentOutlook #privatebanking #wealthmanagement

Investors have hit the ground running following the summer break – but what might they expect from the final stretch this year? Are further rate cuts around the corner? Could growth re-accelerate in the new year? In our new issue of "PERSPECTIVES", our Chief Investment Office provides an update on the economic and investment outlook for the fourth quarter of 2024. We consider whether this softer growth environment might persist for a while, without tipping into recession, and the possible implications for investors. In addition to our macroeconomic commentary, we also outline our forecasts for equities, fixed income, commodities and foreign exchange. You can read the full issue here: https://lnkd.in/efBm6rUp #CIOView #privatebanking #wealthmanagement Deutsche Bank (When investing, your capital may be at risk)

In this week’s CIO Weekly Investment Outlook, the Private Bank’s Global Chief Investment Officer, Christian Nolting, takes stock of the recent U.S. jobs report and says that the drop in equities that followed might have had more to do with signs of concern from the Federal Reserve. "The market doesn't like [it] if the Fed is a bit concerned," Christian says. “Hence, we saw a bit of a negative reaction." Christian says that a coming interest-rate decision from the European Central Bank will have a lot of focus in the week to come, but investors are also likely to be tuned in to the presidential debate between Kamala Harris and Donald Trump. The race, Christian says, is "so close at this point in time, I think even the slightest mistake in a TV debate could have significant implications." Download and subscribe from Apple Podcasts and Spotify or listen here now: https://lnkd.in/emvemAau (When investing, your capital may be at risk) #CIOWeeklyInvestmentOutlook #privatebanking #wealthmanagement

🎥 Watch Art:LIVE from Frieze Seoul 2024: https://lnkd.in/eQe8gAh9 Join Frieze Studios Creative Director Matthew McLean as he explores the pulsating contemporary art scene of Seoul and the highlights of this year's fair, such as Anicka Yi’s sculpture Radial Sensation (2023), "a cross between a baroque chandelier and an octopus". Art:LIVE is your way to meet the artists, gallerists and collectors who exhibited at the fair, wherever you are in the world. Watch the full version here: https://lnkd.in/eQe8gAh9 Deutsche Bank is proud global partner of Frieze Art Fairs. #ArtLIVE #ArtWorks #DBxFrieze #WealthManagement #Frieze #FriezeSeoul #PrivateBanking #DeutscheBankArtCulture #DeutscheBankCollection (When investing, your capital may be at risk)

Personnel news from our Private Bank in Germany today Lars Stoy, Head of Private Bank Germany, has informed Deutsche Bank about his intention to leave the firm to take on a new challenge. We thank him for many years of service during which he has held several senior positions in different business areas and has successfully developed the private client business. Consequently, Dr. Dominik Hennen, Head of Personal Banking and the retail business in Germany, will now report directly to Claudio de Sanctis, highlighting the relevance of our retail franchise for the Private Bank. The successor for the Private Banking & Wealth Management Germany area will be announced in due course. In the meantime, Dominik Hennen will take over Private Banking in Germany, while Stefanie Rühl-Hoffmann, CFA , who currently manages the UHNW team in Germany, will on an interim basis assume responsibility for Wealth Management Germany. We wish Lars all the best for the future and Dominik and Stefanie continued success in their broadened roles! #DeutscheBank #Banking

Benvenuti to our clients, clients-to-be and colleagues to our new flagship stores in Naples and Milan at Deutsche Bank Italia ! Over the summer, the branches in Via Santa Brigida in Naples and Via San Prospero in Milan were completely renovated. The new flagships are designed to encourage interaction and offer tailor-made solutions for the most complex financial needs - both personal and corporate. Our flagship branches are central to our Private Bank strategy and local presence. More will open soon – stay tuned! #Affluent #PrivateBanking Deutsche Bank Italia

In this week’s CIO Weekly Investment Outlook, the Private Bank’s Chief Investment Officer EMEA, Dr. Dirk Steffen, says investors are now setting their expectations for corporate results from the 3rd quarter. “We have this time where investors are asking what's next”, Dirk says, noting that “We think it will, again, be a quite supportive earnings season.” Key data reports this week will shed light on the U.S. labour market. “It's not only payroll Friday, it's the JOLTS report” of turnover in the labour market, Dirk says. Recent downward revisions to jobs growth from earlier in the year will likely have markets particularly attuned, especially as it will be the last monthly report before the Federal Reserve makes its next decision on interest rates. Download and subscribe from Apple Podcasts and Spotify or listen here now: https://lnkd.in/emvemAau (When investing, your capital may be at risk) #privatebanking #wealthmanagement

Adam Proctor joins our UK team as of 1st September as a Managing Director and Relationship Manager 🎉. At Deutsche Bank, Adam will play a key role in further scaling up the Bank’s UHNW business, looking after family offices and entrepreneurs. James Whittaker, Head of Private Bank UK and CEO of DB UK, said: “Our investments in people, platform and offering over the last few years have enabled us to double our revenues and assets under management from the UHNW segment. To further scale up our franchise, we’re thrilled to welcome Adam who is a senior industry expert and has the right track record to support our journey in the UK.” Welcome to #teamDB, Adam! https://lnkd.in/gTeZ2Yez

WATCH 🎥: Is there a more important moment for an entrepreneur than taking over the family business? How do you succeed someone who not only embodies the brand but is also one of the most famous entrepreneurs in Germany? And does having personal liability change your attitude to risk? As the new head of textile manufacturer TRIGEMA W. Grupp KG, Wolfgang Grupp jun. has long worked towards this turning point in his life. We visited him at the Trigema headquarters and factory in Burladingen, Baden-Württemberg, where he answers these questions and more in the second of our video series "Turning Points". In this series, entrepreneurs talk about the crucial turning points that have defined their careers – and ultimately their lives. For more insights into these pivotal moments, watch our Turning Points series here: https://lnkd.in/eJ5W7Q3r #turningpoints #entrepreneurship #entrepreneur #businesssuccession #nextgen #wealthmanagement #privatebanking (When investing, your capital may be at risk.)

Markets are gearing up for important central bank decisions in the US and Europe in September, and our EMEA CIO and Global Chief Investment Strategist Dirk Steffen spoke to Bloomberg Europe to help set the stage and talk strategy. “The main central banks have chimed in for a September cut, and in the next few weeks the jobs data will come in. This will be central to decision-making for the US Federal Reserve,” he said. “Inflation data will have to deliver, and we are still dependent on the state of US and Europe economies.” Dirk doubts that markets will stay calm while central bank decisions are still data dependent. “In our view the market’s pricing on recent developments is a little too dovish, and we expect central banks to be a touch more hawkish until Christmas.” How to hedge in this market? “Apart from strategic asset allocation, we believe in tactical asset allocation as well. It would be varying the degree of equity exposure you have. Looking forward, the dollar may find a stronger footing as well”, Dirk said. Watch it here (starts at 52:01) https://lnkd.in/eRwWYyhv (When investing, your capital may be at risk) #economy #privatebanking #wealthmanagement #CIOinsight #inflation