DB Reviewing Asset Management
"Deutsche Bank is reviewing the structure of its global Asset Management division" says a press release. It explains, "Deutsche Bank announced today that it is conducting a strategic review of its global Asset Management division. While the Bank remains committed to asset management, this review is part of the Bank's continual effort to maintain an optimal business mix and be among the market leaders in each of its businesses. The strategic review of the Asset Management division is focusing in particular on how recent regulatory changes and associated costs and changes in the competitive landscape are impacting the business and its growth prospects on a bank platform. All strategic options are being considered. The review covers all of the Asset Management division globally except for the DWS franchise in Germany, Europe and Asia, which the Bank has already determined is a core part of its retail offering in those markets." Kevin Parker, Global Head of Asset Management, comments, "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." DB Advisors ranks 16th among U.S. money fund managers with $45 billion as of Oct. 31 according to Money Fund Intelligence XLS and ranks 6th among "offshore" (Dublin and Luxembourg) money fund managers with $38 billion according to Money Fund Intelligence International.
