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Deutsche Bank Asset Management Arm Gets Allianz Interest

  • Insurer is said to seek combination of asset-management arms
  • Move could help Deutsche Bank finance merger with Commerzbank
The Gutenberg memorial statue stands outside a Deutsche Bank AG bank branch in Frankfurt, Germany.
Photographer: Krisztian Bocsi/Bloomberg
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Allianz SE is exploring the possibility of a combination of its asset management arm with Deutsche Bank AG’s DWS Group to create a national champion in active money management, according to people familiar with the matter.

The Munich-based insurer is looking at the feasibility of a deal with Germany’s largest lender to create a business with 1.17 trillion euros ($1.33 trillion) under management, said the people, who asked not to be identified discussing the private matter. Allianz’s deliberations are at an early stage and may not lead to any formal talks or agreement, the people said. DWS is one of Deutsche Bank’s crown jewels and the lender is reluctant to sell its holding in the stock-listed unit, one of the people said.