DWS Group, the asset management business majority-owned by Deutsche Bank, is considering a name change as it seeks stronger recognition among institutional clients outside Germany, reported Bloomberg.
According to the sources, the Frankfurt-based firm is planning to adopt the name Deutsche Asset Management later this year
The change would tie the business more closely to Deutsche Bank’s international profile, the people said. DWS is listed separately in Frankfurt, while Deutsche Bank holds nearly 80% of its shares. The bank is not preparing to buy back the remaining stock in the near term, the people said.
A DWS representative said the company is reviewing options “to increase global brand awareness, sharpen the standing of our brands and better leverage our unique position as separately listed bank owned asset manager.” The spokesperson added that no final decision has been made. “DWS remains a separately listed legal entity with its own strategy, leadership and governance. That has not changed,” a Deutsche Bank spokesperson said. Deutsche Bank bought DWS outright more than two decades ago.