FRANKFURT (Dow Jones)–The Fund management company DWS is fuelling the expectation of mergers and Acquisitions. The listed subsidiary of the German Bank is as global in-house with various business segments “in a privileged position,” says chief financial officer Claire Peel in an Interview with the Börsen-Zeitung. “We want to play in any case, an active role in the ongoing consolidation phase.” Larger mergers, which ran on a shift of ownership, in addition to, not lock, you. “We will consider mergers under the scale, whether the new Partner enriches the capabilities of the DWS, if he allows access to new regions or to new customer groups.”
For Deutsche Bank, a major merger would be a two-edged sword: it holds 79.5% of the largest Fund company in Germany and thus has the Say. Bank head Christian Sewing had emphasized the Deutsche Bank have opened with the IPO, the DWS in March 2018, be aware of the door for the new owners, while the house will stay at the same time, the core portfolio of Deutsche Bank’s strategy. Measured at current exchange rates, the value of Deutsche Bank is, to approximately one-third of their share of the DWS. In the past year, the Fund company had spoken presumably with Europe’s largest Fund provider Amundi and the Fund division of UBS about a merger, a marriage of the projects in the Sand were. Officially, the DWS does not want to confirm the talks, however.
Business is picking up again
After the price slide in March, have recovered to the business thing, ‘ said Peel. After investors have shifted in a big style money, was now “part of a counter-movement” are visible. The managed assets, which stood at the end of March at 700 billion Euro, have increased, but still below the level of the turn of the Year, as 767 billion euros had been reached. The austerity wool aggravate the DWS. “We can’t control the market environment in which we move us, but we have control over our costs.”
DJG/hru
(END) Dow Jones Newswires
June 13, 2020 11:46 ET (15:46 GMT)
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