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286.90 -0.30 (-0.10%)

Bid:

286.50

Ask:

286.70

Spread: 0.20 (0.07%)

Market Cap: £15.72b

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Deutsche Bank and UBS plot asset management merger

Wed, 24th Apr 2019 12:24

(Sharecast News) - Deutsche Bank and UBS have been discussing for months a possible tie-up between their two asset management arms that would result in the creation of Europe's largest investment firm.One option being studied was for UBS to spin-off its AM unit which would then merge with its German rival's DWS business, the Financial Times reported.Combined, the two would have assets under management of roughly €1.36trn, versus about €1.4trn for the current European leader, France's Amundi, and leapfrog the likes of Legal&General.But they would still be dwarfed by US peers Blackrock and Vanguard, who together had AuM of $11.7trn.A deal was not guaranteed nor an announcement imminent.As of 1154 BST, shares of UBS were up by 1.31% a Sfr13.57 and those of Deutsche Bank by 0.55% to €7.65.