Frankfurt-based bank in discussions with Guggenheim Partners over sale.
Deutsche Bank, the global financial services company headquartered in Frankfurt, has announced that it is in negotiations with Guggenheim Partners, a Chicago-based buy-side firm with $125 billion under management, over the sale of its asset management businesses.
This follows the announcement in November last year, that it would conduct a strategic review of the division. The DWS franchise in Germany, Europe and Asia was excepted from the review after being deemed a core part of Deutsche's retail operations.
The businesses being discussed as part of the deal include DB advisors, Deutsche Insurance Asset Management and RREEF.