Walker, M. (October 23, 2000). Deutsche Bank Plans to Make Its Retail Unit A Stock Outlet. The Wall Street Journal (pg A29-30)
This article is about Deutsche Bank AG tried to sell its retail business in order to concentrate on corporate and investment banking six month ago and it is now working on a plan to change its retail unit into a pan-European outlet for stocks, mutual funds and other investment products.
Today, top executives of the world's largest bank by assets, Deutsche Bank, are going to present their new ideas to their supervisory board. The board planned to consider the management proposals earlier this year before big steps were taken.
The bank's powerful investment-banking division Global Corporates & Institutions encourages the new idea. GCI oversees the retail network as a distribution channel to the growing class of wealthy Europeans who are changing their savings into stocks and investment funds.
Mr. Breuer had been told to rethink his previous plan to sell a majority stake in Deutsche Bank 24 by the supervisory board. The bank's top investment bankers believe that retaining the retail business and focusing its efforts on selling investment products is profitable than traditional banking services. In addition, Michael Philipp, the manager of the Deutsche Bank's asset-management division, is also pushing the retail restoring to increase the sales of fund-management unit DWS, Europe's biggest mutual-fund company.
These plans aren't limited with only Deutsche Bank 24, it is also for the group's private-banking unit, serving high net-worth clients because of its aggressive expansion as a European sales channel for the GCI and asset-management units. Deutsche Bank also plans to win retail customers in the United States. It was that ...