logo
Plus   Neg
Share
Email
Comment

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

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon.com Inc. (AMZN) said Thursday that it has chosen the 20 metropolitan areas to move to the next phase of the selection process for the company's second headquarters. The company plans to invest over $5 billion and grow the second headquarters to accommodate as many as 50,000 high-paying jobs. Morgan Stanley (MS) reported net income applicable to company of $686 million, or $0.29 per share for the fourth quarter ended December 31, 2017. The results for the current quarter included a net discrete tax provision of $990 million or a loss of $0.55 per share. Excluding net discrete tax items, net... Cannae Holdings, Inc. said Wednesday that its portfolio company, Ceridian HCM Holding Inc., has confidentially filed for an initial public offering. Ceridian HCM, a provider of human resources software and services, filed a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission relating to the proposed IPO of its common stock.
comments powered by Disqus
Follow RTT