Of Special Interest
25th November 2011
Deutsche Bank Asset Management part sale?
Deutsche Bank is indicating that it is seeking buyers for a major part of its Asset Management Division. The bank used the usual code of announcing a 'strategic review' which usually means a complete sale of - but then continued by stating that it remained committed to asset management. Hence leading most observers to conclude that it advertising for buyers to acquire a significant part of the operation. The DWS, fund management, operations in Europe and Asia are stated as core business and excluded from any sale.
Kevin Parker, Global Head of Asset Management and a member of the Deutsche Bank Group Executive Committee, said: "The outcome of this review will be driven first and foremost by our fiduciary duty to, and the interests of, our clients. Our aim is to find the best strategic option to maximize the performance and potential of the Asset Management division."