Deutsche hit by more senior departures at Tilney arm

Deutsche Bank Private Wealth Management has suffered another bout of senior staff departures, with its Shrewsbury office taking the brunt of the resignations.

The departures are all former Tilney Investment Management staff who were key to the stockbroking firm before its acquisition by Deutsche Bank at the end of 2006.

Peter Bickley, Deutsche Bank Private Wealth Management’s Shrewsbury-based chief economist and head of UK strategy, left the group earlier in the year.

He had been at the wealth management firm for two decades, initially working on the pension fund team before becoming head of research in 1993.

In the last two weeks, Richard Jacomb, who headed the Shrewsbury office before Deutsche Bank acquired the private client stockbroker, has also left. He was another Tilney veteran who had spent more than two decades at the private client stockbroker.

Jacomb remained a senior figure within the firm even after the acquisition, acting as an investment director.

Like other top former Tilney staff, his contract had a three-year lock-in clause which recently expired.

Meanwhile, Jacomb’s Shrewsbury colleague Brian Boyd, who headed the Deutsche Bank sales force to the intermediary community in the Midlands, has also departed.

Jacomb and Boyd were based in Shrewsbury for more than a decade. It is unclear whether the duo are defecting to a rival firm.

Another departure at the firm at the end of last year was Robert Court, former director and head of global real estate at Deutsche Bank’s wealth arm.