DWS weighs name change to boost global visibility – report

DWS Group, the asset management business majority-owned by Deutsche Bank, is considering a name change as it seeks stronger recognition among institutional clients outside Germany, reported Bloomberg.

According to the sources, the Frankfurt-based firm is planning to adopt the name Deutsche Asset Management later this year.

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The change would tie the business more closely to Deutsche Bank’s international profile, the sources said.

In a statement to Private Banker International, the company said no decision has been made so far and that DWS remains a “separately listed legal entity with its own strategy, leadership and governance”.

It outlined aims to grow in and beyond the home market in line with its mid-term growth targets set out at the beginning of this year.

“As part of these growth plans, our CEO has pointed to strong upside potential in our brand awareness particularly outside of Continental Europe. Against this background, we are investigating ways to increase global brand awareness, sharpen the standing of our brands and better leverage our unique position as separately listed bank owned asset manager,” the statement added.

Deutsche Bank bought DWS outright more than two decades ago.

DWS, short for Die Wertpapier Spezialisten (which translates to “The Security Specialists”), later became the name used for the wider Deutsche Asset Management unit before its partial stock market listing in 2018.

Deutsche Bank retains a holding of about 80% in DWS.

The bank is not preparing to buy back the remaining stock in the near term, Bloomberg said citing sources.

Stefan Hoops became chief executive of DWS in 2022, after the firm was unsettled by greenwashing allegations. Hoops, who is close to Deutsche Bank chief executive Christian Sewing, joined the bank’s management board earlier this year, underlining closer links between the two businesses.

In recent months, Hoops has told investors that DWS needs a stronger presence beyond continental Europe and a clearer position among institutional investors.

“Where we have a real issue, a real challenge is in institutional,” Hoops said on an analyst call in April. “We will make some changes around the whole value chain for institutional.”

“I really mean brand, marketing, sales, how structuring is set up, how products are set up — because we’re just losing market share in institutional to really well-run strong competitors,” Hoops added.

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