Analysts' Short List of Deutsche AM Suitors Should Surprise No One
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Monday, November 28, 2011

Analysts' Short List of Deutsche AM Suitors Should Surprise No One

It has only been days since Deutsche Bank said it was considering a sale of its U.S. asset management arm along with other DWS [profile] units, and already the speculation on who should buy the business has begun. The Financial Times pulls a report from its daughter-publication Ignites Europe that tags State Street [profile], BlackRock [profile], BNY Mellon (parent of Dreyfus [profile]), Aberdeen [profile] and JPMorgan [profile] as potential bidders.

Meanwhile, a Goldman Sachs research note picked up by the WSJ pegs the value of Deutsche's international asset management businesses at EUR2.5 billion. The report culled the list from talks with stock analysts, so it does not appear that there is any hard reporting behind the list.

"State Street and BNY Mellon have both been buyers of asset managers and servicers in Europe, but because [State Street] shares have been much better performers this year they might have more appetite," guesses Matthew Czepliewicz, an analyst at Collins Stewart.

Aberdeen Asset Management makes the list due to its familiarity with Deutsche Bank and willingness to grow its U.S. footprint. In 2005 it purchased parts of Deutsche’s UK asset management business.

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