DB Private Equity Loses Senior Executive

Jul 16 2010 | 10:51am ET

A senior executive at Deutsche Bank's newly-revamped private equity group has resigned from the bank, FINalternatives has learned.

Pying-Huan Wang, a director in the German bank's private equity unit, recently quit the bank and will be joining an asset management company, where she will lead that firm's Hong Kong operations. She is the fourth executive to leave the group following ex-global head Marco Bizzozero's departure from the unit in 2009. Bizzozero is now CEO of Deutsche Bank Switzerland.

Deutsche Bank declined to comment.

Wang had been based in Zurich where she led the due diligence activities for the group since 2006, and according to one source she was instrumental in expanding the investment activities of the bank in Asia, where she had spent over eight years at Excelsior Capital Asia prior to joining Deutsche Bank.

In April, Deutsche Bank established a new private equity fund-of-funds business within its asset management division, dubbing it DB Private Equity. The unit is the result of three combined groups, Sal. Oppenheim Private Equity Partners—which the bank acquired in March—the Private Equity Group of Deutsche Bank Private Wealth Management, and the Secondaries Private Equity Team of RREEF. Chris Minter serves as global head of the new unit.

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