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Deutsche to list DWS

Deutsche Bank said it will start processes to list its asset management arm DWS. The bank had a year ago announced plans to do so in an effort to regain investor support following years of scandals and restructuring. This will help the bank to contain shareholder protests over its proposed turnaround after a third consecutive annual loss. The bank is expected to sell 25% of existing shares for 1.5 billion to 2 billion euros. The bank has not specified any date for the IPO launch but is likely to take place in mid-March. DWS was Deutsche’s most profitable unit last year, with 725 million in pretax profit on 2.5 billion euros in revenues, compared to 877 million profit on revenues of 14.2 billion in corporate and investment banking.

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