April 3, 2019 / 1:55 PM / 8 months ago

UBS reviews options for asset management business: Bloomberg

FILE PHOTO: The logo of Swiss bank UBS is seen in St. Moritz, Switzerland, February 10, 2017. REUTERS/Stefano Rellandini/File Photo

ZURICH (Reuters) - Swiss bank UBS Group is evaluating options for its asset management unit, including a partial sale or merger of the business, Bloomberg reported on Wednesday, citing unidentified people with knowledge of the matter.

UBS has considered seeking to acquire Deutsche Bank’s DWS Group asset manager, potentially to combine it with its own business and spin off the two as a separate entity, the agency cited the people as saying, adding UBS may still keep the unit unchanged and discussions may not lead to a deal.

UBS and DWS declined to comment on the report.

Reporting by Michael Shields and Angelika Gruber in Zurich and Tom Sims in Frankfurt; Editing by Kirsten Donovan

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