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Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) today announced the acquisition of asset manager Wilhelm von Finck AG as it continues to expand its Private Wealth Management franchise in Germany. The transaction, which is subject to the usual regulatory approval will take effect on 3 January 2005.
Wilhelm von Finck AG manages more than Euro 1 billion in clients' assets. The company covers large and complex sets of private and family assets in the areas of discretionary portfolio investment and wealth controlling. Following the acquisition by Deutsche Bank, the firm will continue to operate under its own name and as an independent company domiciled in Grasbrunn near Munich and to advise its customers independently and individually.
Johannes Baratta, Head of Deutsche Bank Private Wealth Management Germany, says: "With the acquisition of Wilhelm von Finck AG, Deutsche Bank Private Wealth Management is consistently pursuing its strategy of offering a qualitatively unparalleled range of services for large sets of private assets. This includes building up the increasingly important family office unit. We feel a commitment towards the tradition and good name of Wilhelm von Finck AG. That is why we have agreed to continue to deliver the firm's established service on an independent basis.“
"For wealthy families in Germany, this link-up creates an attractive structure, namely an independent family office with possibilities of accessing the comprehensive know-how and full product and service range of an international leader in the financial services industry,“ adds Eberhard Buschmann, Member of the Board of Management of Wilhelm von Finck AG.
This Release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations. Any statement in this Release that states our inten-tions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues; potential defaults of borrowers or trading counterparties; the reliability of our risk management policies, procedures and methods; and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 25 March 2004 in the section "Risk Factors." Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.