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Deutsche Bank mulls asset management IPO


Deutsche Bank is likely to float its asset management arn following reports the German bank intends to sell parts of its business in a major overhaul.

The deliberations are still at an early stage and no decision has been made yet, sources told Reuters.

However, a source said before the IPO the bank would move the asset management arm’s main registration to Luxembourg for tax and regulatory advantages.

The bank is expected to present a strategy update to investors in spring.

Analysts estimates the asset management unit, including the DWS retail asset management business, to be valued €8bn in a potential IPO.

The news comes as the bank finalised its payment of $7.2bn (£5.9bn) to US authorities to settle an investigation into mortgage-backed securities.

As of September, Deutsche’s DWS  brand has produced quarterly pre-tax profit of between €100m and € 265m over the last 18 months.

The asset management unit posted a 7 per cent growth in pre-tax profit to €549m in the first nine months of 2016, represented almost a third of the group’s profits of £1.6bn.

The unit had €715bn in assets under management as of September 2016.


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