logo
Plus   Neg
Share
Email

Deutsche Bank To Rebrand Asset Management Unit As DWS

German lender Deutsche Bank (DB) Tuesday said it plans to rebrand its asset management unit globally as DWS, which is the name of its retail brand. The bank also plans to put a structure in place that gives the lender full control even after the unit's planned stock market listing.

Earlier this year, Deutsche Bank had announced plans to list a minority stake in Deutsche Asset Management.

In a statement on Tuesday, ahead of a capital markets day, the company said that the asset management unit will be floated as partnership limited in shares, or KGaA during the first quarter of 2018.

The planned new corporate structure will give minority shareholders limited influence over the company irrespective of the size of their equity stake in the unit.

Further, the company noted that board member Karl von Rohr would become chairman of the unit.

As per the statement, the business unit expects to achieve net inflows of 3 percent to 5 percent of assets under management in the medium term, an adjusted cost-income-ratio of less than 65 percent and a dividend payout ratio of 65 percent to 75 percent.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
In a move likely to further inflame global trade tensions, President Donald Trump has threatened to impose a 20 percent tariff on all cars imported to the U.S. from the European Union. Trump claimed he would impose the new tariffs unless the EU removes tariffs and trade barriers placed on the U.S. The Federal Reserve has determined that the largest U.S. banks are strongly capitalized and would be able to lend to banks as well as households during a severe global economic recession. This is the fourth straight year that all banks have met the Federal Reserve's standards. The first round of results of the supervisory stress tests were released by the central bank on Thursday. The "safety" driver behind the wheel of a self-driving Uber was streaming a television show on her smartphone up until about the time of a fatal crash in March, according to a report from the Tempe Police Department. Uber's self-driving Volvo SUV, which was traveling at under 44 miles per hour, had struck and killed a pedestrian in Arizona on March 18.
Follow RTT