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Deutsche Bank UK wealth management CEO to retire

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Subject to regulatory approval, Whittaker, who is current head of UK coverage for the firm, will succeed Morley as CEO and head of Deutsche Bank’s International Private Bank in the UK.

Morley has spent 42 years in the City of London, with three senior CEO roles in the sector, including at Coutts and Barclays Wealth.

An internal memo at the company said: “Michael has played a decisive role in putting in place a business model which is poised for the next phase of growth.

“We are grateful for how he has attracted one of the industry’s most highly regarded management teams, which is now firmly focused on growing our business with entrepreneurs, family offices and ultra high net worth clients, in line with our global IPB strategy. We are delighted that Michael will stay closely connected with the bank in the next chapter of his career.”

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Whittaker joined the firm in October 2020 and will work closely with Morley over the coming months to transition, with a formal handover date to be announced shortly.

The memo said the company is “confident he will enjoy continued success as we further develop our UK wealth management business to become a leading advisor to entrepreneurs and their families”.

The company also noted that there had been further changes to Deutsche Bank UK’s bank management structure, with Paul Chapman and Adam Russ awaiting regulatory approval for the roles of COO and co-head of lending, EMEA, respectively.