Mark Gilbert , Columnist

For Deutsche Bank’s Escapee, Freedom Is No Reward

DWS has lost more than a billion euros of value since its IPO.

July 25, 2018 at 9:38 AM UTC

Mark Gilbert is a Bloomberg Opinion columnist covering asset management. A former London bureau chief for Bloomberg News, he is author of “Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable.”

You can check out of Deutsche Bank's misery hotel, but you can never leave.
Photograph: Corbis Historical

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Four months after escaping from the claustrophobic embrace of Deutsche Bank AG, DWS Group is finding life as a free agent somewhat tougher than it might have hoped.

In March, Deutsche Bank sold 22.25 percent of its stake in DWS at 32.50 euros a share, valuing the offshoot at 6.5 billion euros ($7.6 billion). The decline since then has wiped more than a billion euros off the new company’s market capitalization.