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Report: Deutsche Bank Asia-Pacific wealth management head to join UBS Group

Ravi Raju, Deutsche Bank AG's head of wealth management for theAsia-Pacific, will depart the German banking group to join , Reuters reported Oct.11, citing "a source with direct knowledge of the development."

Raju is expected to start at UBS Group in a few months, butit is not clear what his new role will be, the source said.

Spokeswomen at both Deutsche Bank and UBS Group in Asiadeclined to comment on the matter, the news outlet reported.