Deutsche Bank AG and Zurich Financial Services Group confirmed today that they are in an advanced stage of negotiations. Deutsche Bank is interested in acquiring the asset manager Zurich Scudder Investments. UK asset manager Threadneedle, which is closely integrated with Zurich’s UK distribution network, will remain within the Zurich Group. At the same time, Zurich is interested in acquiring Deutscher Herold and further insurance subsidiaries of Deutsche Bank in Continental Europe. An integral part of the negotiations is a cooperation agreement between the two companies in the fields of insurance, asset management and investment banking products and their distribution to provide a full range of financial servies to their customers.
Both companies will make no further statements until the negotiations have been finalized.