The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Giant Bank Works On Its Asset Manager's IPO Story Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 27, 2017

A Giant Bank Works On Its Asset Manager's IPO Story

News summary by MFWire's editors

Those eagerly awaiting a particular giant bank's asset management partial IPO spinoff may have to wait a bit longer.
Nicolas Moreau
Deutsche Bank
Head of Deutsche Asset Management

Deutsche Bank's [profile] planned IPO of its $846-billion-AUM asset management arm probably won't happen until the first half of 2018 at the earliest, unnamed sources tell Reuters' Arno Schuetze and Simon Jessop. Perhaps Deutsche Bank CEO Jon Cryan and Deutsche Asset Management chief Nicolas Moreau are trying to improve the "equity story" for the unit, whose IPO could raise $2.3 billion, the wire service notes.
John Cryan
Deutsche Bank

"The IPO story is not ready yet," one unnamed source tells Reuters while opining that Deutsche needs to amp up its ETF business in particular. The publication notes Deutsche is the third-biggest ETF provider in Europe and the sixth biggest in the world.

"We are currently focused on creating a Deutsche AM business that is distinct from Deutsche Bank, in preparation for the planned partial IPO," a Deutsche spokesperson tells the wire service. "We expect to complete that process later this year. We have not yet started to present our equity story to investors."

Cryan has repeatedly insisted that he wants to keep Deutsche AM as "an integral part of the group." As such, the Deutsche AM partial spinoff plan he revealed in March of this year will still leave the bank holding what he calls a "controlling and super-majority stake" in Deutsche AM. Moreau reportedly said in June that the Deutsche AM business bundling and the distribution deals with the bank will all be finalized by October.

"We continue to make excellent progress with our IPO preparations and achieve notable milestones in our preparations," Moreau reportedly added in a memo earlier this month. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use