Deutsche Bank today revealed that its management board, which initiated a strategic review of its global Asset Management division on November 22, 2011, has switched gears and agreed to focus its exclusive negotiations with Guggenheim Partners on a potential sale of RREEF, its global alternative asset management business.
In a statement, the bank and Guggenheim Partners said they mutually agreed to end exclusive negotiations about a potential sale of DWS Americas, the mutual fund business in the Americas; DB Advisors, the global institutional asset management business; and Deutsche Insurance Asset Management, the global insurance asset management business.
“Deutsche Bank will continue to evaluate these businesses and is fully committed to maintaining the stability of its investment teams and to ensuring that clients continue to receive the highest level of quality in investment management services,” the firm said.
