Deutsche Asset & Wealth Management picked up a new regional executive from J.P. Morgan Private Bank.

Lee Hutter joined Deutsche in Los Angeles, where he will oversee the Western region for the German firm's wealth management arm in the U.S. Hutter was previously a managing director at J.P. Morgan. In his new position, he will report to Haig Ariyan and Chip Packard, co-heads of the wealth management division in the Americas. Executives say that the firm aims to build up its wealth management presence, particularly in western states.

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