FRANKFURT Oct 7 Deutsche Bank is
working on a spin-off of its asset management business as one of
several options to bolster its capital, the Financial Times
reported on Friday, citing people familiar with the matter.
Germany's biggest lender has not made a final decision about
whether to float a minority stake in the unit, and any such move
is unlikely before the first half of 2017, the paper said.
Deutsche Bank declined to comment on the report.
An initial public offering (IPO) would represent a partial
or complete sale of the business that Deutsche Bank has long
been reluctant to sell.
Deutsche has been engulfed in crisis since news emerged last
month of a U.S. demand for a $14 billion settlement over the
sale of toxic mortgage bonds.
Deutsche Bank Chief Executive John Cryan told staff last
month that he had no plans to sell the asset management
business, saying it is and will remain an essential part of the
lender's business model.
(Reporting by Maria Sheahan; Editing by Adrian Croft)