Deutsche Bank
Dutsche Bank close to selling unitsPosted by RJ and Makay on Jan 20, 2012 |
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Ameriprise Financial, JPMorgan Chase and State Street Corp. are among the final bidders toward the purchase of Deutsche Bank AG’s asset management division, according to inside sources. Deutsche Bank had announced in November that it was mulling the sale of several of its asset management businesses and cited new regulations, rising competition and costs as key factors behind their decision.
European banks must raise a total of 114.7 billion euros ($153.8 billion) in new capital by June 2012, the European Banking Authority (EBA) said today. The capital is necessary to make the banks strong enough to withstand the eurozone debt crisis and restore investor confidence. The cumulative amount needed is greater than the preliminary E106 billion EBA estimate for 71 banks issued in late October.
UBS announced last Friday that former German central bank president Axel A. Weber will join its board of directors next year, and that the firm will nominate him to succeed Kaspar Villiger as chairman in 2013. Mr. Weber will initially join UBS’s board as a non-independent vice chairman in 2012 prior to his appointment as chairman.
