View more on these topics

Deutsche Bank mulls asset management IPO

stock-stockmarket-ftse-index-700x450

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.

Recommended

FCA logo new 620x430.jpg
1

Ex-Deutsche Bank trader gets green light to sue FCA

A former Deutsche Bank trader has been told he can bring a civil case against the FCA despite facing trial over Libor manipulation. In April Deutsche Bank was fined a total of £1.7bn by international regulators rigging Libor and Euribor. Bloomberg reports Christian Bittar is suing the regulator over the final notice against Deutsche Bank, […]

FCA interior logo 620x430

FCA bans former Deutsche Bank trader over Libor fraud

The FCA has banned a former Deutsche Bank trader from the UK financial services industry following a criminal fraud conviction in the US. On 8 October 2015, Michael Curtler pleaded guilty before the United States District Court for the Southern District of New York for his role in a conspiracy to manipulate Deutsche Bank’s US […]

Tree - thumbnail

The politics of healthcare

Healthcare is already one of the key battlefields in May’s general election, with each of the main parties committing to deliver improvements to the NHS and public health.

Dubai

White paper — Dubai International Insights

Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment