Deutsche Bank in asset management spin-off rumours

Added 7th October 2016

Deutsche Bank is working on an initial public offering of its asset management division to rebuild its capital position, the Financial Times has reported.

Deutsche Bank in asset management spin-off rumours

The news follows an expected multi-billion dollar settlement with the US Department of Justice (DoJ) for alleged mis-selling of mortgage-backed securities in 2008, it said.

While the FT said Deutsche Bank has not yet arrived at a final decision over a potential flotation of a minority stake in the asset management business, with no action likely until next year, Deutsche Bank chief executive John Cryan issued a statement last month (September) to employees urging them to ignore market noise.

He said: “Despite all our challenges, I personally have a different impression of our bank than that painted by some observers. I can assure you that my management board colleagues and I will do everything we can to show you and the public that we can look to the future with confidence.

“Do not allow yourself to become distracted by speculation about alleged mergers or sales plans. There is one rumour in particular that I would like to dispel by making it unambiguously clear that Deutsche Asset Management is and will remain an essential part of our business model.

“We have enough on our plate to solve on our own, and we intend to concentrate on this for now. We want to resolve further important litigation cases, and we are now approaching the finish line in our second and third round of negotiations with employee representatives in Germany.”

The FT said Cryan was in Washington this week along with other global financial executives for the International Monetary Fund and World Bank annual meetings, adding he was expected to meet with the DoJ during his visit.

Deutsche Asset Management has approximately €719bn under management.

Deutsche Bank declined to comment further.


Overseas earners will be key amidst 2017 inflation

Sponsored by Neptune

Overseas earners will be key amidst 2017 inflation...

A by-product of sterling weakness is inflation, and we expect this to continue to gather steam over the coming months, with energy and food prices the hardest hit....

Kames Income Hub


Vincent McEntegart, manager of the Kames Diversified Monthly Income Fund, explains how he aims to deliver a stable and sustainable income of 5% p.a.*, paid monthly, by investing in a range of asset classes

Square Mile Research

AXA Distribution Fund
AXA Distribution Fund

Talking Factsheets is a video service for users...

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address



Investment Strategy




PA Alternative Ucits 2017
PA Alternative Ucits 2017

Tuesday 25 April
The Langham, London

PA Europe 2017
PA Europe 2017

Thursday 11 May 2017
Furniture Makers' Hall

PA Channel Islands 2017
PA Channel Islands 2017

Wednesday 24 May
Royal Yacht Hotel, Jersey

PA UK Equity 2017
PA UK Equity 2017

Thursday 15 June
Radisson Blu Edwardian Bloomsbury Street Hotel

Sponsored Content

Investment Strategy