The German banking giant's new hire will be based in Hong Kong.

Deutsche Bank's wealth management arm has appointed Terry Tung as a managing director, a newly-created role.

Previously, Tung worked as an executive director at UBS in the ultra-high net worth China team, and has spent some time with HSBC Private Bank's China team. He started his career in private banking in 2004 with Credit Suisse.

In his new role, Tung will head up a team responsible for providing wealth management client coverage in the Greater China region.

In recent news, the firm internally promoted Kansas Chan to head of wealth management for North Asia.