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Wednesday, April 6, 2016|
Asset Management is a Bright Spot For Deutsche
For the first time, Deutsche Bank [profile] is breaking out numbers specifically on its asset management unit, and it's looking pretty strong compared to the bank's other key units.
The numbers come mere months after a big Deutsche restructuring, which included the splitting of Deutsche Asset & Wealth Management (and the departure of some top execs there). Asset management became its own division, while private wealth management merged into Deutsche's private and business clients division.
DeAM's worldwide headcount rose 3.3 percent last year to 2,815 (the supplement does not break out specific numbers for the U.S. side of DeAM), and its noninterest expenses rose 19 percent to 2.452 billion euros ($2.79 billion). Yet its income before taxes also rose, by 11 percent, to $854 million.
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