Over the years, Deutsche Bank’s asset management division has promised a great deal, but not always delivered. Yet former BlackRock executive Quintin Price, who is to take charge of the business from January 1, has the qualifications to make a difference.

His appointment is part of the top-level shake-up at Deutsche, which confirmed in an October 18 statement that Price will become head of asset management and, notably, join its group management board. His arrival is at the expense of Michele Faissola, who had been a close lieutenant of Deutsche's former co-chief executive Anshu Jain and will leave the division after a transition period.