DWS Chairman Urges Asset Manager to Pursue Acquisitions to Outpace Market Growth

DWS Group, Deutsche Bank's asset management arm, needs acquisitions to outpace the market, according to Chairman Oliver Behrens. The company has not made a significant acquisition in two decades and ranks 23rd globally by assets. Behrens believes that acquisitions should be part of an asset manager's strategic options to grow faster than the market. DWS has around €1 trillion under management and has struggled to find suitable targets for mergers. Recent deals in European asset management, such as the combination of Generali and BPCE's investment units, threaten to leave DWS further behind.