Talks have stalled between Deutsche Bank and UBS on a tie-up of their asset management businesses due to differences over who would control the combined entity, according to a Reuters report on May 13 citing people familiar with the matter.
Frankfurt-based Deutsche Bank, its asset management arm DWS, and Zurich-based UBS declined to comment on the article. The idea of merging the businesses emerged in recent months as Deutsche Bank discussed a possible merger with smaller German rival Commerzbank. A deal for Deutsche's DWS unit could have been a way to finance that merger, but with the Commerzbank talks ending in failure the urgency to do an asset-management deal has diminished.
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