Senior Institutional Discretionary Portfolio Manager, Director

Deutsche Bank

Deutsche Bank

Metropolitan City of Milan, Italy

Posted on May 19, 2026

Job Description:

For over 150 years, our dedication to being the Global Hausbank for our clients has been driven by our people – in around 60 countries and across more than 150 nationalities.

Their deep understanding, insights, expertise, and passion help our clients navigate an increasingly complex world – be it in our Corporate Bank, our Private Bank, our Investment Bank or our Asset Management division.

Together we can make a great impact for our clients home and abroad, securing their lasting success and financial security.

The Private Bank combines Deutsche Bank’s private client’s business and its international business with private and commercial clients together with Wealth Management in a single division. In both the domestic German market and worldwide the Private Bank provides high-quality advice to over 20 million clients and a broad range of financial services in 19 countries – ranging from day-to-day banking services right through to advisory services for sophisticated Private Banking and Wealth Management clients.

We live the Global Hausbank concept by combining global research with local proximity. Within the Banking, Lending & Investment Solutions sector of the Private Bank, Discretionary Portfolio Management (DPM) manages portfolios on behalf of private, commercial and institutional clients with a disciplined investment process, bringing together global insights and on-the-ground expertise to serve our clients across generations. DPM stands firmly at the core offering of our Investment proposition. We confidently believe that relying on our proprietary investment capabilities, based on a robust investment process, can deliver superior service and superior risk-adjusted results to our clients, irrespective of their ambitions, interests, and risk propension.

In fostering our growth ambitions, we are requesting an addition to our 9-strong Italian DPM team with a Senior Discretionary Portfolio Manager role.

We are looking for motivated senior professional with multi-year tenure in portfolio management, ideally with exposure on private, commercial and institutional clients, who are enthusiastic team players with excellent communication, presentation, leadership and interpersonal skills.

You will be part of the Discretionary Portfolio Management (DPM) Team within Investment Solutions and play a significant role in managing portfolios and supporting the growth ambitions of the Private Bank, contributing to the global investment process and having regular updates with Relationship Managers, Investment Managers and end Clients.

Responsibilities

  • Lead a team of up to two professionals with focus on institutional mandates, in the broader context and in full coordination with the DPM Team, reporting to the Head of DPM Italy.

  • Participate to the global and local DPM investment process in order to successfully contribute to all the activities and projects of the DPM team.

  • Manage and implement standardized and tailored discretionary mandates, with particular focus on institutional portfolios.

  • Support business development with periodic support to Relationship Managers and Investment Managers.

Skills

  • Degree in Finance, Economics, Business, Engineering or related field.

  • At least 20 years of experience in Discretionary Portfolio Management, role within Chief Investment Office and/or Asset Management a plus.

  • Long tenure a plus.

  • Strong analytical and problem-solving skills.

  • Excellent client communication and interpersonal abilities.

  • Excellent Italian, Fluent English, written and spoken.

  • Solid risk-awareness and expertise in risk management.

  • Being proficient in Microsoft Office software (particularly Excel and PowerPoint).

Well-being & Benefits

Emotionally and mentally balanced: We encourage work-life balance and we are committed to provide an environment with your development and wellbeing at its centre. We support you in dealing with life crises, maintaining stability through illness, and maintaining good mental health. We promote a culture where you can openly speak about mental health (Personal Support Line).

Physically thriving: We support you managing your physical health by taking appropriate preventive measures and providing an insurance coverage and welfare benefits.

Socially connected: We strongly believe in collaboration, inclusion and feeling connected to open up new perspectives and strengthen our self confidence and well being; we organize conferences, webinar and networking opportunities to share diversity, equity and inclusion contents.

Financially secure: We support you to meet personal financial goals during your active career and for the future. Benefit from meal allowance, Pension Fund, Welfare Plan, banking services for employees.

We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.

Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group.

We welcome applications from all people and promote a positive, fair and inclusive work environment.