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Tuesday, May 14, 2019

So Much For That $1.6T Asset Management Merger

News summary by MFWire's editors

A possible merger that would've pushed the resulting firm into the exclusive $1-trillion-and-up AUM club may be falling apart.

Ulrich Koerner
UBS Group AG
President of Asset Management, and President of UBS Europe, Middle East, and Africa
The UBS asset management-DWS merger talks have stalled and the likelihood of a deal is dropping since UBS and Deutsche Bank (which owns 70 percent of publicly traded DWS) can't agree on who would own the majority of the combined asset manager after such a merger, Bloomberg reports, citing unnamed sources. UBS' asset management arm now has 722 billion euros ($811 billion) in AUM, while DWS has 704 billion euros ($791 billion), so if the two sides manage to make a deal work the combined entity would have 1.426 trillion euros ($1.602 trillion) in AUM.

Last month, news broke that UBS' leadership is weighing strategic options for their asset management arm, options including buying DWS. Then later last month news of serious merger talks broke. 

Edited by: Neil Anderson, Managing Editor

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