trending Market Intelligence /marketintelligence/en/news-insights/trending/H_2BLhXCx0Run6rKawWbnA2 content esgSubNav
In This List

Deutsche Bank's asset management arm to rebrand, unveils medium-term targets

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Deutsche Bank's asset management arm to rebrand, unveils medium-term targets

Deutsche Bank AG's asset management arm will rebrand under a new single global umbrella brand called DWS, which will encompass all of the division's institutional, retail, active, passive and alternative business lines.

Deutsche Asset Management, which had €711 billion in AUM at September-end, will operate within a GmbH & Co. KGaA legal structure, effective in the first quarter of 2018. The new structure will enable operational autonomy for the division to support its growth plans, while also giving Deutsche Bank continued oversight to meet regulatory requirements.

The German lender's chief administrative officer, Karl von Rohr, will become chairman of the supervisory board of Deutsche Asset Management within the new structure, with the exact composition of the board to be determined in due course. The unit's management team includes CEO Nicolas Moreau, CFO Claire Peel, Chief Control Officer Nikolaus von Tippelskirch and Chief Investment Officer Stefan Kreuzkamp, who is also co-head for the investment group along with Pierre Cherki. Von Tippelskirch, who has been with the German lender for 18 years, will have functional responsibility for legal, compliance governance and legal entity management in his role as chief control officer.

The asset management business will have a new logo, with the rebranding of all legal entities and product lines expected to be completed in 2018. The division will retain its exchange-traded fund product label Xtrackers and real estate name RREEF on a product level, linked to DWS.

The move comes as Deutsche Bank is preparing for a partial IPO of the asset management arm to reportedly raise roughly €2 billion. The German lender has yet to disclose details about the timing and size of the listing.

Meanwhile, Moreau said during a capital markets day in London on Dec. 5 that the asset management firm is targeting in the medium term average net inflows of 3% to 5%, a fee margin over 30 basis points, an adjusted cost-to-income ratio of less than 65% and a dividend payout ratio of between 65% and 75%.