UBS and Deutsche Bank in 'serious' talks over asset management merger - reports

Would create €1.4bn giant

The asset management arms of Deutsche Bank and UBS are in serious talks over a potential merger which would create a new European fund management giant with assets under management (AUM) of €1.4trn, according to reports.

The FT reports that discussions about a potential deal have been going on "for a couple of months", according to a person close to the situation.  If the deal is successful, the new group would become a rival to Europe's largest money manager, Amundi, in terms of AUM, making it larger than France's AXA IM and LGIM in the UK. According to the FT, one of the options on the table is that UBS would fold its €700bn asset management unit into Deutsche Bank's DWS, receiving shares in the latter in exchange.  DWS currently €662bn has in assets under management and is 79% owned by Deutsche....