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Rating:Wells Fargo Looked at DWS Not Rated 2.0 Email Routing List Email & Route  Print Print
Monday, February 27, 2012

Wells Fargo Looked at DWS

News summary by MFWire's editors

The identity of another possible DWS Investments [profile] U.S. bidder just came to light. In an interview with Tom Braithwaite of the Financial Times, Wells Fargo [profile] CEO John Stumpf revealed that the banking giant took a glance at the asset management auction.

"Wells Fargo plans to increase the size of its wealth management and insurance divisions through acquisitions as well as buying more assets from shrinking European banks, its chief executive says," the FT wrote, listing many of Wells' deals and possibilities. "This year it has looked at Deutsche Bank's asset management unit."

In November Deutsche Bank officially began exploring "all strategic options" for its global asset management business, including the DWS mutual fund business here in the U.S. but not including the DWS funds business in Germany, the rest of Europe and Asia [see MFWire.com, 11/22/2011]. Other rumored bidders include Columbia parent Ameriprise, Claymore and Rydex acquirer Guggenheim Partners, Delaware owner Macquarie, Putnam parent Power Financial, State Street, and a number of others [see MFWire.com, 2/23/2012]. 

Edited by: Neil Anderson, Managing Editor

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