Deutsche Bank Plans Return to Brazil Asset-Management Business
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Deutsche Bank AG, the German bank that left the Brazilian asset-management industry in 2003, plans to return to that business as part of an expansion in Latin America.
“Latin America is definitely the place where the growth is coming from,” Bernardo Parnes, head of the company’s Brazilian operations and chief executive officer for a new Latin America division, said in an interview last week in Sao Paulo. “We are thinking of using the help of the bigger Brazilian banks to distribute our funds.”