Deutsche Bank is strengthening its wealth management in India to take advantage of the increased entrepreneurial wealth in the country.

The German lender has hired more than 15 bankers and product professionals across various segments to join the India business in 2021 and early 2022. The additional hires are being made across the areas of relationship management and investment advisory.

“The business opportunity in India has become very compelling with the material wealth creation driven by entrepreneurial activity. We are now shifting gears and expanding our long-standing and established team as we seek to support our clients and reach new ones with our full suite of products and solutions” said Amrit Singh, head of wealth management, South Asia.

Among the new hires are Rajasekar Ayyalu who will take over as director in Chennai where he will be responsible for expanding and deepening Deutsche Bank’s presence in South India. Ayyalu was executive director (investments) at Julius Baer.

Four others, Jai Bhatia, Sanyam Sharma , Anjali Vashisth and Manish Lalwani have joined the bank’s Delhi and Mumbai offices as vice-presidents managing client relationships.