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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 RTT Staff Writer

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