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, reported the Financial Times.
The stalling of the asset management talks is a further setback to Deutsche only weeks after it abandoned lengthy discussions about merging with its main German rival Commerzbank.
The Financial Times reported in late April that the German and the Swiss lenders were in serious discussions over a merger of their respective asset management units.
A deal would create a European asset management champion with about €1.4tn in assets under management, bigger than France’s Axa and the UK’s Legal & General and roughly at par with France’s Amundi, Europe’s largest money manager.
Full Content: Financial Times
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