Deutsche Bank enters exclusive negotiations with Guggenheim Partners
Germany-based Deutsche Bank has entered into negotiations with Guggenheim Partners to dispose its asset management business, subject to a previously-announced strategic review.
The firm intends to dispose its businesses such as DWS Americas, the Americas mutual fund business; DB Advisors, the global institutional asset management business; Deutsche Insurance Asset Management, the global insurance asset management business; and RREEF, the global alternative asset management business.
The exclusive negotiations are in line with Deutsche Bank's announcement on 22 November 2011, about a strategic review of its asset management division globally except for the DWS franchise in Germany, Europe and Asia.
Deutsche Bank, an investment bank provides its services in 72 nations, including Germany and Europe, North America, Asia and key emerging markets.
Guggenheim Partners operates into ten countries globally, and has significant expertise in institutional asset management serving the insurance and pension sectors, as well as in intermediary-focused investments through a broad range of mutual fund solutions.