Deutsche Bank has announced that it is going to conduct a strategic review of its global Asset Management division. The bank says that while it is still committed to the business, recent regulatory changes and associated costs, as well as increased competition in the market, have impacted "its growth prospects on a bank platform."
"The outcome of this review will be driven first and foremost by our fiduciary duty to, and the interests of, our clients," says Kevin Parker, global head of Asset Management. "Our aim is to find the best strategic option to maximize the performance and potential of the Asset Management division."
This review will not include the DWS franchise in Europe and Asia, according to the bank.
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