Deutsche Bank has announced plans to rename its asset management arm to DWS, the brand for its German retail funds business, from 2018.
The new brand will encompass various business lines of Deutsche Asset Management (Deutsche AM), namely active, passive and alternative, and capabilities in institutional and retail. However, the bank will retain its ETF product label Xtrackers and real estate name RREEF.
Deutsche AM head Nicolas Moreau said: “Our new global brand DWS draws on our roots in the German market, going back over 60 years, and a name that is distinct in our industry globally. It stands for stability, a strong track record and for values we have continuously lived up to: excellence, entrepreneurship, sustainability and integrity. Values that will remain central to our future success.”
The asset management arm, which is expected to be floated soon, also unveiled a new corporate structure that would allow the unit to be floated as a partnership limited by shares or KGaA during the first quarter of 2018.
The new structure would offer the unit operational autonomy even if its shareholding falls below the 75% usually required to control German entities.
Under the new structure, Deutsche Bank chief administrative officer Karl von Rohr will take up the role of chairman of the asset management unit’s supervisory board. Other board seats will be reserved for independent members, other shareholder representatives and employee representatives.
The management team will include CEO Nicolas Moreau, CFO Claire Peel, COO Jon Eilbeck, and chief control officer Nikolaus von Tippelskirch, and CIO Stefan Kreuzkamp.