Deutsche Bank appointed Claudio de Sanctis as European head of wealth management, it said in a statement on Thursday. He will be based in Zurich and start on December 1 2018.

Earlier today, finews.com exclusively reported that de Sanctis would leave the International Wealth Management division of Credit Suisse after the company decided to restructure the business. He had been in charge of private banking in Europe for the past five years.

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De Sanctis will be asked to boost growth at Deutsche Bank in the region. He will manage the business in more than a dozen countries, including Germany, Switzerland, the U.K., Italy, Spain and France.

The banker will report to Fabrizio Campelli, head of wealth management at Deutsche Bank.