Deutsche Bank Enters Exclusive Negotiations on Sale of Asset Management businesses
28 February 2012 (PLANSPONSOREurope.com) - Deutsche Bank has entered exclusive negotiations with Guggenheim Partners on the sale of its Asset Management businesses that are subject to a previously-announced strategic review.
The businesses include DWS Americas, the Americas mutual fund business; DB Advisors, the global institutional asset management business; Deutsche Insurance Asset Management, the global insurance asset management business; and RREEF, the global alternative asset management business.
Guggenheim Partners operates in the institutional asset management space serving the insurance and pension sectors, as well as in intermediary-focused investments through a range of mutual fund solutions.
The move follows Deutsche Bank’s announcement on 22 November 2011, that it would conduct a strategic review of its Asset Management division globally except for the DWS franchise in Germany, Europe and Asia, which the Bank had already determined to be a core part of its retail offering in those markets.