Germany's Deutsche Bank AG has invited a select group of hedge funds and other institutional investors to meet some of its top executives at an exclusive event in Manhattan, New York, amid efforts to shift some operations away from the U.S., Bloomberg News reported, citing people with knowledge of the plan.
CFO James von Moltke is among senior Deutsche Bank executives who will attend the event, which will offer an insight into the German lender's current credit-risk profile, the results of the U.S. Comprehensive Capital Analysis and Review and other topics relevant to its counterparties, according to a copy of the invite seen by the newswire. The bank also meant to inform potential clients about the financial resources it can commit to their funds.
Deutsche Bank has been encouraging hedge funds to move their business to its German legal entity and counterparty from the U.S. broker-dealer, three people said. This will facilitate more efficient finance for Deutsche Bank's operations, one person said.
At the Sept. 6 event, which followed a recent shake-up of Deutsche Bank's U.S. leadership, the group's executives hope to forge personal ties with money managers, the people said before the gathering, according to Bloomberg. Some executives also plan to pitch Deutsche Bank as the preferable European bank to clients who were looking to diversify prime-brokerage relationships, one person with knowledge of the meeting said.