Deutsche Bank and UBS plot asset management merger
Deutsche Bank and UBS have been discussing for months a possible tie-up between their two asset management arms that would result in the creation of Europe's largest investment firm.
One option being studied was for UBS to spin-off its AM unit which would then merge with its German rival's DWS business, the Financial Times reported.
Combined, the two would have assets under management of roughly €1.36trn, versus about €1.4trn for the current European leader, France's Amundi, and leapfrog the likes of Legal&General.
But they would still be dwarfed by US peers Blackrock and Vanguard, who together had AuM of $11.7trn.
A deal was not guaranteed nor an announcement imminent.
As of 1154 BST, shares of UBS were up by 1.31% a Sfr13.57 and those of Deutsche Bank by 0.55% to €7.65.