Deutsche adds muscle

Deutsche Bank Private Banking has nabbed industry heavyweights Thomas Murphy and Peter Haggstrom for its recently restructured research and technical services group.

Murphy, who headed up overseas equities and diversified funds for BNP Investment Management, has been appointed head of investment research. Haggstrom, who will head technical strategy, was BT Funds Management's vice president of product development and a former tax ombudsman.

Stephen Manassah, director of strategy and e-commerce, says the appointments will enhance the already significant base of resources supporting Deutsche's financial planning and private banking advisers.

"Thomas' and Peter's experience will add greater depth to an already strong intellectual capital platform which underpins our advisory businesses," he says.

The Deutsche research and technical services team now totals seven.

Murphy and Haggstrom will also be part of an e-business team, led by Manassah, to develop Deutsche's overall e-commerce strategy.

"Their knowledge and experience will be a valuable asset to our evolving e-commerce strategy," he says. "We see e-commerce as a further investment in intellectual capital which enhances our resources."

Manassah says the team, which he expects to be fully in place by late August, will be looking at e-commerce from a lateral perspective, creating alliances with partners and using them to support existing channels.