Deutsche Asset & Wealth Management picked up two J.P. Morgan recruits for its private bank.

Richard Ward, a former executive director and global investment specialist for J.P. Morgan's private bank, will now serve as a director in the investment solutions business for Deutsche's private bank on the West Coast, according to the firm. Ward is joined in his new role by fellow J.P. Morgan colleague Matthew Sullivan. Sullivan began his career in J.P. Morgan's analyst program, according to Deutsche. He now serves as an assistant vice president at Deutsche.

Both Ward and Sullivan will report directly to Todd Stevens, the firm's head of investment solutions group in the Americas, and regionally to Lee Hutter, Deutsche's head of wealth management for the West Coast, according to the firm.

"We are focused on strategically building out the investment capabilities of our private bank to meet the sophisticated and evolving needs of our ultra-high-net-worth clients," Stevens said in a statement. "We are excited for Richard and Matt to play a large role in helping us identify and create unique investment solutions for these clients."

Deutsche recently appointed a former Lombard Odier relationship manager to managing director and senior relationship manager for Mexico.

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