UPDATE 1-Deutsche Bank names head of Americas asset and wealth
May 15 (Reuters) - Deutsche Bank AG said on Wednesday it has named Jerry Miller to run the German bank's asset and wealth management business in the Americas.
Miller, a Morgan Stanley and Merrill Lynch veteran, will be based in New York and report to Michele Faissola, head of asset and wealth management at Deutsche Bank. In his new post, Miller will also chair the division's America's Executive Committee.
At Morgan Stanley, Miller led the Central Division of the company's Global Wealth Management business. Prior to that, he spent more than two decades at Merrill Lynch, the brokerage now owned by Bank of America Corp, eventually joining the senior leadership team at Merrill Lynch Investment Managers.
Miller was most recently a senior adviser at Lightyear Capital LLC, a private equity firm, where he was responsible for the acquisition of financial services companies, with a focus on investment management and wealth management firms.
Deutsche Asset and Wealth Management manages a portfolio of nearly $400 billion in invested assets for clients in North America and Latin America. The group caters to high-net-worth individuals and family offices, providing both wealth management and private banking services.
As head of the Americas division, Miller will be in charge of expanding the group's business in the region. He will also join the Deutsche Bank North America executive committee, led by Jacques Brand, chief executive officer of Deutsche Bank North America.