Deutsche Bank is to conduct a strategic review
of its global asset management division outside its core markets in
Germany, Europe and Asia.
The German bank said the strategic review is
focused on how recent regulatory changes and associated costs and
changes in the competitive landscape impact the business and its
growth prospects.
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PBI understands Deutsche private wealth
management (PWM) unit, part of the bank’s private clients and asset
management (PCAM) division, is not part of the review.
Impact on private clients
Deutsche’s ‘one-bank’ model relies on driving
collaboration between the different bank divisions.
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By GlobalDataIt recently re-energised its key clients group
to give its high-value clients access to institutional-level
service, ideas and investment opportunities from its corporate
investment bank.
Private clients have traditionally drawn on
products from asset managers with many private banks seeking
greater collaboration between their asset management and private
client divisions.
A change to Deutsche’s model in markets
outside Germany, Europe and Asia could drag on its PWM unit.
