All of the asset management business lines will be united under one global brand, DWS, with the rebranding of all legal entities and product lines to be completed in 2018.
Deutsche AM will operate within a GmbH & Co. KGaA (Kommanditgesellschaft auf Aktien) legal structure to enable operational autonomy while giving Deutsche Bank continued oversight to meet its regulatory requirements.
The new structure will come into effect in the first quarter of 2018.Karl von Rohr, chief administrative officer of Deutsche Bank, will become chairman of the supervisory board of Deutsche AM within the new structure. This board will comprise independent members, other shareholder representatives and employee representatives.
Half of the management team, including the CEO, will be based in Frankfurt.
Nicolas Moreau, head of Deutsche AM, 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.“
We want to unlock the full potential of Deutsche AM to facilitate growth. Our future legal structure demonstrates the long-term commitment of Deutsche Bank to our business while giving us the operational autonomy to advance our growth strategy.”
In July, Deutsche AM achieved final close of Pan European Infrastructure II, bringing total available investment of €2.5bn. PEIF II is a closed-end fund focusing on unlisted European infrastructure investments.