Gloria Nelund, national director of sales for Deutsche Bank's Scudder Private Investment Counsel, will take over for Paul Higgins as head of Deutsche Bank Private Banking at the end of the year. Higgins, 56, is leaving the post that he won in 1999 to retire, according to the bank.

Nelund will report to Pierre de Weck, global head of private wealth management as did Higgins. She is currently based on the West Coast. Prior to joining Scudder, she was a private banker at Bank of America on the West Coast. Higgins, meanwhile, had joined the German bank after its acquisition of Bankers Trust.

Higgins will continue as a strategic advisor to the bank after his retirement and he handpicked Nelund as his recommended successor. 

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