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Monday, September 10, 2012

WSJ Is All Over Deutsche's Sale

News summary by MFWire's editors

Fundsters awaiting word on the fate of DWS [profile] may get their answer this week. Laura Stevens of the Wall Street Journal reports that this week the co-CEOs of DWS' beleaguered parent, Deutsche Bank, are expected to lay out their strategic vision for the bank.

In November 2011, Deutsche unveiled a strategic review of all of its asset management businesses, excluding DWS in Asia, Germany and the rest of Europe, but including DWS here in the U.S. Deutsche's exclusive negotiations to sell those businesses to Guggenheim Partners fell apart in May 2012. Then in June Deutsche announced the conclusion of the strategic review, promising to "make a further update" on the results "as part of its commitment to communicate a long-term, Bank-wide strategy in September."

The two new co-CEOs of Deutsche are Anshu Jain and Jürgen Fitschen

Edited by: Neil Anderson, Managing Editor

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