Deutsche Bank said on Nov. 22 that it is conducting a review of its global asset management business. This means, of course, that Deutsche Bank is considering selling the business, according to sister Web site peHub.
A Deutsche Bank spokeswoman said all options are being considered for the business, including a sale or retaining some of the businesses. The review excludes DWS’ franchise in Germany, Europe and Asia. But DWS Americas is part of the review, the spokeswoman said.
What else is included—and could be up for grabs—are RREEF Alternatives, DB Advisors and Deutsche Insurance Asset Management. Deutsche Bank’s asset management has €515.63 billion in assets under management. This includes €161.82 billion in institutional funds, €150.02 billion in insurance and €46.35 billion in alternative funds.
DWS globally has €157.44 billion in funds under management.
Peter Lenardos, an RBC Capital Markets asset management analyst, said that Deutsche Bank is selling the subpar assets that have “ongoing net outflows,” according to Financial News. Lenardos, in the story, said he can’t think of a buyer for the assets.
Others think differently. Deutsche Insurance Advisors, which manages the balance sheet assets of insurance companies, “is a pretty big deal,” one banker told peHub. Its largest client is Zurich Insurance.
The big players in the space are PIMCO and BlackRock. Either could be interested in the insurance unit, the source said. Other rivals, including Wellington Management, Conning & Co. (which is owned by buyout firm
(Luisa Beltran is a senior writer for peHub.)