Deutsche Bank weighs closer asset and private banking alignment
Deutsche Bank is examining options to bring its asset management arm and private banking activities into closer cooperation, reported Bloomberg citing sources.
According to the sources, the bank is considering additional measures similar to the discretionary portfolio management partnership announced in February.
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The issue was discussed by executives at the annual strategy meeting of DWS Group, Deutsche Bank’s asset management business, held in London earlier this month.
One person privy to the matter said that wider cooperation could, over time, create a route towards closer organisational alignment between the two operations.
No decisions have been taken, and discussions on expanding cooperation are still at an early stage, the people said.
Deutsche Bank holds about 80% of DWS.
Spokespeople for Deutsche Bank and DWS declined to comment.
Chief executive Christian Sewing has overseen a recovery at Deutsche Bank, while DWS has been helped by rising global equity markets.
Earlier this month, DWS Group said it will introduce Deutsche Asset Management as its new global brand identity, effective early November 2026.
DWS is run by chief executive Stefan Hoops, who is regarded as one of several possible successors to Sewing after his term expires in 2029.
Deutsche Bank’s wealth management business sits within its Private Bank division, which also includes retail banking, and is headed by Claudio de Sanctis.
Until the end of 2015, both businesses were housed in the same division, called Deutsche Asset & Wealth Management.
Until July, DWS had described the “private wealth” segment as “retail.”
Beyond wealth management, Hoops is also drawing on Deutsche Bank’s corporate bank and investment bank to expand DWS’s private markets business.
Hoops, a longtime Deutsche Bank executive who joined the lender’s management board this year, had earlier agreed a partnership giving DWS preferred access to loans originated by Deutsche Bank.
In November, Deutsche Bank and DWS said they were joining with Qatari family office Al Mirqab Capital to invest in German industries.
