Claudio de Sanctis, head of European wealth management at Deutsche Bank, is launching a recruitment campaign, according to a memo obtained by the website finews. De Sanctis has recruited Marco Pagliara from Morgan Stanley, who will begin in the role in June. He will be responsible for the United Kingdom, Scandinavia, Luxembourg, and clients in Switzerland and “emerging Europe.” At Morgan Stanley, he had been responsible for wealth management in Switzerland and continental Europe. Michael Morley, who had reported to de Sanctis, will now report to Pagliara. The head of wealth management has also recruited Alessandro Caironi to coordinate ultra-high net worth clients, a role which he had previously held at Credit Suisse. These recruitments are a sign of an ambition from de Sanctis to make Deutsche Bank a top pan-Europan wealth management firm. With €199bn in assets under management in this activity, Deutsche Bank ranks as a second-tier player in an industry that includes heavyweights such as Citi and UBS. Alongside the arrival of high-profile figures as part of the management team, Deutsche Bank is also planning to hire at least 100 private bankers worldwide.