(November 22, 2011) – Deutsche Bank, the German banking giant with a global presence, announced in a Tuesday release that “it is conducting a strategic review of its global Asset Management division.”
“While the Bank remains committed to asset management,” the statement continued, “this review is part of the Bank’s continual effort to maintain an optimal business mix and be among the market in each of its businesses.” Interestingly, the bank’s DWS mutual-fund arm—based in Germany, Europe, and Asia—is exempt from the review. The review of the rest of the business, however, will focus on “how recent regulatory changes and associated costs and changes in the competitive landscape are impacting the business and its growth prospects on a bank platform.”
Revenues for the asset management division have been stagnant this year. During the third quarter, revenues fell 7%, the result of lower asset and performance-based fees as global markets tumbled.
To contact the <em>aiCIO</em> editor of this story: Kristopher McDaniel at <a href='mailto:kmcdaniel@assetinternational.com'>kmcdaniel@assetinternational.com</a>